Corporation Bank CIRP Against Neerajakshi Steel Closed

Authority: National Company Law Tribunal, Hyderabad Bench - II

Order Date: 18 June 2026

Case Overview

This matter concerns an application (IA (IBC)/905/2026) filed in the ongoing Company Petition IB/374/7/HDB/2019, which was originally initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Corporation Bank against Neerajakshi Iron and Steel Pvt Ltd. The application specifically sought the closure of the Corporate Insolvency Resolution Process (CIRP) of the corporate debtor, Neerajakshi Iron and Steel Pvt Ltd.

Final Outcome

The NCLT Hyderabad Bench, comprising Judicial Member Shri Rajeev Bhardwaj and Technical Member Shri Sanjay Puri, disposed of the application. The tribunal recorded that the resolution plan for the corporate debtor had been "implemented fully" and that the "CIRP process has been completed." Consequently, the applicant (presumably the Resolution Professional or Chairperson of the Monitoring Committee) was discharged from their respective duties. The order was signed by both members of the bench.

Topics: Insolvency Resolution, NCLT Proceedings, Banking Dispute