Authority: National Company Law Tribunal, Hyderabad Bench - II
Order Date: June 23, 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench-II heard Company Petition IB/38/7/HDB/2026 filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). The petition was filed by Tamilnad Mercantile Bank Limited as the Financial Creditor against IVRCL Patalganga Truck Terminals Pvt Ltd as the Corporate Debtor/Respondent. The hearing was conducted in hybrid mode (VC and physical attendance) before a bench comprising Hon'ble Member (Judicial) Shri Rajeev Bhardwaj and Hon'ble Member (Technical) Shri Sanjay Puri. Counsel for the respondent requested additional time to file their counter affidavit.
Final Outcome
The NCLT granted the respondent three weeks to file their counter affidavit. The petitioner was granted two weeks thereafter to file a rejoinder, if necessary. The matter was adjourned to August 11, 2026, for further hearing. This is a procedural adjournment with no substantive ruling on the merits of the insolvency petition at this stage.
Topics: Insolvency Proceeding, NCLT Hearing, Corporate Debt