Authority: National Company Law Tribunal, Hyderabad Bench – II
Order Date: 22 June 2026
Case Overview
This hearing concerns Interlocutory Application IA (IBC)/1385/2024 filed within the main insolvency petition CP (IB) No.23/7/HDB/2018 under Section 7 of the Insolvency and Bankruptcy Code (IBC). The petition was initiated by Power Finance Corporation Ltd as the financial creditor against East Coast Energy Pvt Ltd as the corporate debtor. The matter was heard by a bench comprising Judicial Member Shri Rajeev Bhardwaj and Technical Member Shri Sanjay Puri. Multiple respondents were represented by counsel during the hybrid (VC and physical) hearing.
Final Outcome
The tribunal adjourned the matter to 24 August 2026. The order directed respondents who had not yet filed their counters to submit them within one week from the order date. Any rejoinders to these counters are to be filed within two weeks after the counters are submitted. Additionally, the registry was instructed to accept a complete counter affidavit from Respondents No. 14 and 15, which had been prepared but was inadvertently filed as a preliminary counter only. The complete counter must be taken on record within 7 days.
Topics: Insolvency Proceeding, NCLT Hearing, Case Adjournment