Case Details
Case Name: Indian Bank in the matter of Kasukurthi Sujatha Constructions Pvt Ltd
Court/Authority: National Company Law Tribunal, Hyderabad Bench - II
Case Number: IA (IBC)/1562/2025 in Company Petition IB/60/95/HDB/2024
Section: 95 of IBC (Insolvency and Bankruptcy Code)
Hearing Date: 22 May 2026
Next Hearing Date: 12 June 2026
Parties Involved
Petitioner: Indian Bank
Corporate Debtor: Kasukurthi Sujatha Constructions Pvt Ltd
Respondent: Mr. K. Rajesh (Personal Guarantor)
Resolution Professional/Applicant: Represented by Ms. Mummaneni Vazra laxmi, Ld. Counsel
Committee of Creditors (CoC): Indian Bank
Tribunal Members: Shri. Rajeev Bhardwaj (Hon'ble Member - Judicial), Shri. Sanjay Puri (Hon'ble Member - Technical)
Issues / Allegations / Violations
The matter involves an insolvency proceeding under Section 95 of the Insolvency and Bankruptcy Code, 2016. The specific nature of the default or violation is not detailed in this order, but the proceeding concerns the corporate insolvency resolution process of Kasukurthi Sujatha Constructions Pvt Ltd with Indian Bank as the petitioner.
Findings & Observations
The tribunal observed that "the repayment plan has not been rejected or approved as already observed in the earlier order." This indicates the repayment plan submitted in the insolvency proceeding remains pending determination by the tribunal.
Final Ruling & Enforcement
The matter has been adjourned to 12 June 2026 for further hearing. No final decision on the repayment plan or the insolvency proceeding was made in this hearing.
Attendance
Present: Counsel for the Resolution Professional/Applicant
Absent: Representatives for the Committee of Creditors (Indian Bank) and the Respondent/Personal Guarantor (Mr. K. Rajesh)