Authority: National Company Law Tribunal, Hyderabad Bench - II
Order Date: 22 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench-II heard Company Petition IB/24/95/HDB/2026 filed by Canara Bank under Section 95 of the Insolvency and Bankruptcy Code (IBC) against Mr. C.S. Hari Kumar. The petition represents an insolvency proceeding initiated by the financial creditor (Canara Bank) against the personal guarantor (Mr. C.S. Hari Kumar). The hearing was conducted in hybrid mode (VC and physical) before a bench comprising Hon'ble Member (Judicial) Shri. Rajeev Bhardwaj and Hon'ble Member (Technical) Shri. Sanjay Puri.
Representation included Ms. Ruthika Reddy as counsel for the petitioner (Canara Bank), Ms. Chandana Sunkari as counsel for the respondent (Mr. C.S. Hari Kumar), and Mr. KB Kumar as the Resolution Professional.
The tribunal noted that this hearing represented a "last opportunity" for the parties to complete necessary filings. The order specifically addresses procedural requirements for moving the case forward.
Final Outcome
The NCLT granted a final opportunity for the parties to file the vakalat (power of attorney), counter affidavit, and objections to the Resolution Professional's report within three weeks from June 22, 2026. Any rejoinder to these filings must be submitted within two weeks after the initial filing period. The matter has been adjourned to August 3, 2026, for further hearing.
Topics: Insolvency Proceeding, Banking Litigation