Authority: National Company Law Tribunal, Hyderabad Bench - II
Order Date: 06 July 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench-II heard an interlocutory application IA (IBC)/131/2026 filed within the main Company Petition IB/132/7/HDB/2019 under Section 7 of the Insolvency and Bankruptcy Code (IBC). The petition was initiated by State Bank of India as the financial creditor against ICSA (India) Ltd as the corporate debtor. The hearing was conducted in hybrid mode (virtual and physical attendance) before a bench comprising Hon'ble Member (Judicial) Shri Rajeev Bhardwaj and Hon'ble Member (Technical) Shri Sanjay Puri.
Final Outcome
The tribunal adjourned the matter to 17 August 2026. Mr. Anshit Aggarwal, representing Respondent No. 1 (ICSA India Ltd) from Nyaayam Associates, filed his Vakalatnama (power of attorney) during the hearing. The tribunal granted Respondents No. 2 and 3 a period of 3 weeks to file their counter affidavits, followed by an additional 2 weeks for the filing of any rejoinder. The order was signed by both members of the bench.
Legal representatives present included Mr. M. Ramarao for the Applicant (State Bank of India), Mr. Anshit Aggarwal for Respondent No. 1, Ms. Soujanya Ramaswamy from TLH Advocates and Solicitors for Respondent No. 2, and Ms. Vidhi Sharma for Respondents No. 3. No representative appeared for Respondent No. 4.
Topics: Insolvency Proceedings, NCLT Hearing, Corporate Debt