Authority: National Company Law Tribunal, Bengaluru Bench (Special Bench)
Order Date: 29 June 2026
Case Overview
The matter involves a petition filed under Sections 241-242 of the Companies Act, 2013 by Srinivas Avutha Reddy (Petitioner) against Lydor Software Innovation Private Limited (Respondent). The petition appears to concern allegations of oppression and mismanagement in the company's affairs. The case is registered as CP No. 39/BB/2021 with connected application CA 128/2026. The matter was heard by a bench comprising Hon'ble Member (Judicial) Shri Sunil Kumar Aggarwal and Hon'ble Member (Technical) Shri Banwari Lal Meena. Representation included Advocate Varshitha K for the petitioner and Advocate Suryansh Naidu for the respondents.
Final Outcome
The NCLT adjourned the hearing and issued procedural directions. The respondents (numbered 1 to 3) were directed to file their Vakalath (power of attorney) and submit their reply to the application within 2 weeks, with copy to the applicant. The petitioner was granted another 2 weeks to file a rejoinder after receiving the reply. The matter has been listed for next hearing on 06 August 2026.
Topics: NCLT Proceedings, Company Law Dispute, Corporate Governance