Authority: National Company Law Tribunal, Amaravati Bench
Order Date: 16 June 2026
Case Overview
The matter involves an insolvency petition (CP (IB)/41/123/AMR/2023) filed by Central Bank of India against Smt. Chavva Naga Lakshmi and M/s. Sri Ananda Lakshmi Narasimha Industries India Pvt. Ltd. under Sections 123 and 60(5) of the Insolvency and Bankruptcy Code, 2016. The specific application being heard is IA (IBC)/208/2026. During the hearing, the Applicant/Bankruptcy Trustee, Mr. Madasa Kumar, requested additional time to formally file a memo for withdrawal of the application, indicating that this withdrawal would be done with the approval of the Committee of Creditors.
Final Outcome
The NCLT Bench, comprising Member (Judicial) Shri Kishore Vemulapalli and Member (Technical) Shri Umesh Kumar Shukla, granted the request for an adjournment. The matter has been listed for further consideration on 22 June 2026 to allow the Trustee to file the necessary withdrawal memorandum.
Topics: Insolvency Proceeding, Banking Sector