Authority: National Company Law Tribunal, Hyderabad Bench – 1
Order Date: 15 June 2026
Case Overview
The hearing pertains to CP (IB) No. 152/95/HDB/2025, an insolvency petition filed under Section 95 of the Insolvency and Bankruptcy Code, 2016. The petitioner is M/s. Aditya Birla Capital Ltd. (now amalgamated with M/s. Aditya Birla Finance Ltd. as per an NCLT Ahmedabad Bench order dated 24 March 2025), represented by its proposed Resolution Professional, Mr. Vakiti Vineeth Reddy. The respondents are Mr. Rajendra Prasad Peddapally (Personal Guarantor to the Corporate Debtor) and M/s. Spectra India Eco Projects Pvt. Ltd. (Corporate Debtor). The bench comprised Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri. Learned Counsel Mr. Nikhil Pathak appeared for the Financial Creditor, and Mr. Sharath Chandupatla appeared for the Personal Guarantor.
Final Outcome
The Tribunal granted the respondent (Personal Guarantor) one final opportunity to file a counter-affidavit within three weeks from the order date. The petitioner is granted one week thereafter to file a rejoinder, if any. The matter has been adjourned and is next listed for hearing on 27 July 2026.
Topics: Insolvency Proceeding, Personal Guarantor, Corporate Debtor