Case Details
Case Name: Canara Bank vs Sri Padamatinti Prasad
Court/Authority: National Company Law Tribunal, Hyderabad Bench - II
Case Number: IB/87/95/HDB/2025
Date of Hearing: 22 May 2026
Governing Law: Section 95 of Insolvency and Bankruptcy Code (IBC)
Parties Involved
Petitioner: Canara Bank (Represented by Ms. Sanjana from Office of Mr. Dishit Bhattacharjee)
Respondent: Sri Padamatinti Prasad (Represented by Mr. Y. Suryanarayana)
Bench Composition: Shri Rajeev Bhardwaj (Hon'ble Member - Judicial) and Shri Sanjay Puri (Hon'ble Member - Technical)
Procedural Status
The hearing was conducted in hybrid mode (VC and Physical) on 22 May 2026 at 10:30 AM.
The Tribunal directed the Respondent's counsel to cure defects in the petition within 2 weeks from the hearing date.
If required, the Petitioner may file a rejoinder within the subsequent 2 weeks after defect rectification.
The matter has been adjourned to 09 July 2026 for further proceedings.
Current Stage
This is an initial procedural hearing in the insolvency petition process. No findings, allegations, penalties, or substantive rulings have been made at this stage. The case remains at the preliminary stage of defect rectification and document completion.