Authority: National Company Law Tribunal, Hyderabad Bench – II
Order Date: 22 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench-II heard two interlocutory applications (IAs) related to the corporate insolvency resolution process of Konaseema Gas Power Ltd. The main petition (CP (IB) No.458/7/HDB/2018) was filed by IDBI Bank Ltd under Section 7 of the Insolvency and Bankruptcy Code (IBC). The bench comprised Judicial Member Shri Rajeev Bhardwaj and Technical Member Shri Sanjay Puri.
Two specific applications were heard:
1. IA(IBC)/1667/2025: Represented by Mr. Swapnil Newaskar for the applicant and Ms. Sarvani Desiraju along with the liquidator Mr. Sai Ramesh Kanuparthi. The physical copy of the rejoinder had not been filed, and the registry was directed to accept it within one week.
2. IA(IBC)/1591/2023: Represented by Ms. Sarvani Desiraju along with liquidator Mr. Sai Ramesh Kanuparthi, and Ms. KVS. Madhumita for respondents 1 & 8. No one appeared for Respondent No. 3. Pleadings were completed in this matter.
Final Outcome
Both matters were adjourned to 24 August 2026 for further hearing. No substantive decisions on the merits of the applications were made during this hearing.
Topics: Insolvency Proceedings, NCLT Hearing