Authority: National Company Law Tribunal, Hyderabad Bench - II
Order Date: 06.07.2026
Case Overview
HDFC Bank Ltd filed an insolvency petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) against Innovare Labs Pvt Ltd, registered as CP (IB) No.176/7/HDB/2025. 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. The respondent, Innovare Labs Pvt Ltd, had failed to file a counter for the previous three hearings and was absent from representation during the current hearing as well. Mr. V. Aneesh appeared as learned counsel for the petitioner bank.
Final Outcome
The NCLT bench concluded that the respondent's consistent non-appearance and failure to file a counter indicated lack of interest in pursuing the matter. Consequently, the bench set the proceedings ex-parte and reserved the case for orders.
Topics: Insolvency Proceeding, Banking Dispute, NCLT Order