Authority: National Company Law Tribunal, Hyderabad Bench – II
Order Date: 16 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench-II heard two Interlocutory Applications (IAs) related to the main insolvency petition CP (IB) No.678/7/HDB/2018. The main petition was filed by Axis Bank Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC) against the corporate debtor, Lanco Kondapalli Power Ltd. The bench comprised Shri Rajeev Bhardwaj (Member Judicial) and Shri Sanjay Puri (Member Technical).
Two specific applications were heard:
1. IA (IBC)/888/2026: This application involved Axis Bank Ltd. as the petitioner and Lanco Kondapalli Power Ltd. as the respondent. Counsel for the respondent acknowledged service. The tribunal directed the respondent to file its vakalath (power of attorney) and counter-affidavit within three weeks. The petitioner was given two weeks after that to file a rejoinder, if necessary. The matter was adjourned to 06 August 2026.
2. IA (IBC)/819/2026: This application involved additional parties. The Liquidator of Lanco Kondapalli Power Ltd., Mr. K Vatsa Kumar, was present and noted as a respondent. Counsel for the respondent acknowledged service. The tribunal directed the respondent to file its vakalath and counter within one week. The applicant was given one week thereafter to file a rejoinder. Notices were also ordered to be issued to other respondents in this application. The matter was adjourned to 06 July 2026.
Final Outcome
Both interlocutory applications were adjourned with specific deadlines for filing replies. No substantive decisions on the merits of the applications or the main insolvency petition were made in this hearing. The next dates for hearing are 06 July 2026 for IA (IBC)/819/2026 and 06 August 2026 for IA (IBC)/888/2026.
Topics: Insolvency Proceeding, NCLT Hearing, Corporate Debtor