Authority: National Company Law Tribunal, Hyderabad Bench – II

Order Date: 10 June 2026

Case Overview

This order sheet documents the proceedings of multiple Interlocutory Applications (IAs) and Contempt Petitions heard by the NCLT Hyderabad Bench. The matters are ancillary to the main insolvency petition CP (IB) No.252/9/HDB/2020 filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The parties involved are Akaal Enterprises Pvt Ltd (Petitioner) and AGS Management Services Pvt Ltd (Respondent). The bench comprised Hon'ble Member (Judicial) Shri. Rajeev Bhardwaj and Hon'ble Member (Technical) Shri. Sanjay Puri.

Three specific applications were heard:

1. IA (IBC)/782/2026: Counsel for the Applicant (Mr. Krishna Mohan Gollamudi and Mr. Jayachandra) was present. The applicant had filed a memo as per prior directions. The Tribunal directed that a physical copy of this memo be filed within 3 days and adjourned this specific matter to 22 July 2026.

2. IA (IBC)/647/2026 in Contempt Petition (IBC)/23/2025 in IA (IBC)/2333/2024: Counsel for the Applicant (Mr. Srinivas Jakkani) and Counsel for the Liquidator (Mr. Krishna Mohan Gollamudi and Mr. Jayachandra) were present. The Tribunal noted that this application had already been disposed of vide an order dated 21 April 2026. That previous order had set aside an ex-parte order subject to the payment of costs. The Tribunal noted that these costs had not been paid till the date of this hearing (10 June 2026).

3. IA (IBC)/648/2026 in Contempt Petition (IBC)/24/2025 in IA (IBC)/2334/2024: Counsel for the Applicant (Mr. Srinivas Jakkani) and Counsel for the Liquidator (Mr. Krishna Mohan Gollamudi and Mr. Jayachandra) were present. The Tribunal noted that this application had also already been disposed of vide the same order dated 21 April 2026. It was similarly noted that the cost imposed by that order had not been paid to date.

Final Outcome

The primary outcome of this hearing was the adjournment of IA (IBC)/782/2026 to 22 July 2026. For the other two applications (IA/647/2026 and IA/648/2026), the Tribunal did not issue any new directions but formally recorded on the order sheet that the costs mandated by its prior disposal order from April 21, 2026, remained unpaid.

Topics: NCLT Proceedings, Insolvency, Contempt Petition