Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: 22 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench heard an insolvency petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was filed by Indian Overseas Bank, represented by its Assistant General Manager Sri Rajesh Kumar, as the Financial Creditor against M/s. Synergies Casting Ltd., represented by its Managing Director, as the Corporate Debtor. The hearing was conducted in hybrid mode (VC and physical) before a bench comprising Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri. Both parties were represented by their respective counsel during the proceedings.
Final Outcome
The Tribunal adjourned the matter and issued directions for the filing of pleadings. The Corporate Debtor (Respondent) was directed to file its counter within two weeks from the order date. The Financial Creditor (Petitioner) was permitted to file a rejoinder, if any, within two weeks after the counter is filed. The matter has been adjourned to 27 July 2026 for further hearing.
Topics: Insolvency Proceeding, Banking Dispute, NCLT Hearing