Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: 18-06-2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench heard Company Petition No. 13/241/HDB/2026 filed under Sections 241 & 242 of the Companies Act, 2013. The petition was filed by Sri Siva Raghuram Prasad Chennupati and Smt. Pavani Chennupati (Petitioners) against M/s. Aritra Propulsion Pvt Ltd. (Respondent 1), Sri Sridhar Thatikonda (Respondent 2), Smt. Prasanna Kumari Motukuri (Respondent 3), the Registrar of Companies - Telangana (Respondent 4), and The Manager - ICICI Bank, Kharkana (Respondent 5). The matter concerns allegations of oppression and mismanagement against the company and its directors.
During the hearing held on 18-06-2026 at 12:45 PM in hybrid mode, Mr. Ankam Ravindra appeared as counsel for the petitioners. Despite service of notice, none appeared for Respondents No. 3 to 5. Mr. M Satyanarayana appeared as counsel for Respondents No. 1 & 2 (the company and Sri Sridhar Thatikonda).
The bench comprising Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri directed Respondents No. 1 & 2 to file their counter affidavit within six weeks from the hearing date. The petitioners were granted two weeks thereafter to file their rejoinder, if any.
Final Outcome
The matter has been adjourned to 08-10-2026 for further hearing. The case remains pending before the NCLT with the next procedural steps involving the filing of counter affidavits and rejoinder.
Topics: Corporate Dispute, Legal Proceedings