Authority: National Company Law Tribunal, Hyderabad Bench – II
Order Date: June 23, 2026
Case Overview
This is an order from a hearing in the matter of CP (IB)No.102/9/HDB/2025, filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The petitioner is the Maharashtra Industrial Development Corporation (MIDC), and the respondent is IVRCL Patalganga Truck Terminal Pvt Ltd. The hearing was conducted in a hybrid mode (VC and Physical) and was presided over by a bench comprising Hon'ble Member (Judicial) Shri. Rajeev Bhardwaj and Hon'ble Member (Technical) Shri. Sanjay Puri. The petitioner was represented by Learned Counsel Mr. B. Nitish, and the respondent was represented by Learned Counsel Mr. G. Bhupesh. The principal matter is an insolvency petition initiated by the operational creditor (MIDC) against the corporate debtor (IVRCL Patalganga).
Final Outcome
The Tribunal granted an adjournment. The Learned Counsel for the respondent (IVRCL Patalganga) requested time to file a counter to the petition. The bench allowed this request, directing that the counter be filed within three weeks. Subsequently, the petitioner (MIDC) is granted two weeks after that to file a rejoinder, if necessary. The matter has been adjourned and is next listed for hearing on August 11, 2026. No substantive decision on the admission or dismissal of the petition was made in this order.
Topics: Insolvency Proceeding, NCLT Hearing, Adjournment