Authority: National Company Law Tribunal, Hyderabad Bench - II

Order Date: 30 June 2026

Case Overview

The National Company Law Tribunal (NCLT) Hyderabad Bench-II heard multiple Interlocutory Applications (IAs) in the matter of CP (IB) No.150/9/HDB/2017 under Section 9 of the Insolvency and Bankruptcy Code (IBC). The proceedings involve Rohan Varma Constructions Pvt Ltd as Petitioner and Ind-Bharat Power (Madras) Ltd as Respondent. The bench comprised Hon'ble Member (Judicial) Shri Rajeev Bhardwaj and Hon'ble Member (Technical) Shri Sanjay Puri.

Nine specific IAs were listed for hearing: IA (IBC)/117/2022, IA (IBC)/257/2021, IA (IBC)/552/2020, IA (IBC)/1013/2019, IA (IBC)/1012/2019, IA (IBC)/256/2018, IA (IBC)/255/2018, IA (IBC)/993/2023, and IA (IBC)/926/2025. Mr. Bhagavath Krishnan appeared as counsel for the Liquidator in most applications, with various other counsel representing different applicants and respondents.

The central development across most applications was that the stay previously granted by the National Company Law Appellate Tribunal (NCLAT) had been modified. For IA (IBC)/1013/2019, the applicant's counsel (Ms. KVS Madhumita) stated that the application had become infructuous in view of the latest NCLAT order.

Final Outcome

The Tribunal disposed of the applications as follows:

  • IA (IBC)/1013/2019 was dismissed as withdrawn after the applicant declared it infructuous due to the latest NCLAT order.
  • All other applications (IA (IBC)/117/2022, IA (IBC)/1012/2019, IA (IBC)/256/2018, IA (IBC)/255/2018, IA (IBC)/257/2021, IA (IBC)/552/2020, IA (IBC)/926/2025, and IA (IBC)/993/2023) were adjourned to 14 July 2026.
  • For the adjourned matters, counsel for both parties were directed to file a copy of the modification order issued by the NCLAT.

The practical consequence is that the liquidation process of Ind-Bharat Power (Madras) Ltd remains subject to the modified stay order from NCLAT, with further proceedings in these applications postponed until mid-July 2026.

Topics: Insolvency Proceedings, Legal Adjournment