Authority: National Company Law Tribunal, Hyderabad Bench – II
Order Date: 16 June 2026
Case Overview
This hearing pertains to an Interlocutory Application (IA No. (IBC)/589/2026) filed within the main Company Petition (IB/306/7/HDB/2022) initiated by Union Bank of India against GMP Infrastructure Pvt Ltd under Section 7 of the Insolvency and Bankruptcy Code (IBC). The matter was heard in a hybrid (VC and physical) mode. The bench comprised Hon'ble Member (Judicial) Shri. Rajeev Bhardwaj and Hon'ble Member (Technical) Shri. Sanjay Puri. Learned counsel Ms. JVL Bharathi appeared for the Resolution Professional (RP), and Mr. G. P. Yash Vardhan appeared for the Financial Creditor (FC). During the hearing, the FC's counsel informed the tribunal that the Committee of Creditors (CoC) had taken a decision to replace the Interim Resolution Professional (IRP).
Final Outcome
The tribunal noted the submission regarding the CoC's decision and adjourned the matter. The next hearing is scheduled for 07 July 2026.
Topics: Insolvency, NCLT, Corporate Debt