Authority: National Company Law Tribunal (NCLT), Hyderabad Bench – 1
Order Date: 15 June 2026
Case Overview
This is a hearing in an insolvency petition filed under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner is M/s. Aditya Birla Capital Ltd., which is noted to have been amalgamated with M/s. Aditya Birla Finance Ltd. pursuant to an order dated 24.03.2025 from the Hon'ble NCLT Ahmedabad Bench. The petitioner is represented by a proposed resolution professional, Mr. Vakiti Vineeth Reddy. The respondents are Mr. Vasudeva Rao Genega, the personal guarantor to the corporate debtor, and M/s. Spectra India Eco Projects Pvt. Ltd., the 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 for further hearing on 27 July 2026.
Topics: Insolvency Proceeding, Corporate Debt, Legal Adjournment