Authority: National Company Law Tribunal, Hyderabad Bench – II
Order Date: July 6, 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench-II heard an interlocutory application (IA (IBC)/819/2026) in the main petition CP (IB) No.678/7/HDB/2018. The petition was filed by Axis Bank Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Lanco Kondapalli Power Ltd. The hearing was conducted in a hybrid mode (VC and physical attendance) before a bench comprising Judicial Member Shri Rajeev Bhardwaj and Technical Member Shri Sanjay Puri.
Final Outcome
The tribunal adjourned the matter to July 20, 2026. It directed Respondent No. 2 to file their counter within one week from the hearing date (by July 13, 2026). The applicant (Axis Bank Ltd) was given three days after the counter filing to submit any rejoinder. The liquidator (Respondent No. 1, represented by Mr. K Vatsa Kumar) and counsels for all parties were present during the hearing.
Topics: Insolvency Proceeding, NCLT Hearing, Corporate Debt