Authority: National Company Law Tribunal, Hyderabad Bench – II
Order Date: October 9, 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench-II heard matters related to Company Petition IB/304/7/HDB/2022 filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). The petition was initiated by Union Bank of India as the financial creditor against corporate debtor Panduranga Energy Systems Pvt Ltd. The hearing addressed two interlocutory applications: IA(IBC) 1398/2026 and IA (IBC)/1091/2026 in IA (IBC)/588/2026.
The bench comprised Hon'ble Member (Judicial) Shri Rajeev Bhardwaj and Hon'ble Member (Technical) Shri Sanjay Puri. Representation included Mr. GP Yash Vardhan appearing as counsel for the applicant in one matter and for the respondent in another, Ms. JVL Bharati appearing as counsel for the applicant, and Mr. Venkat Narsinga Rao Kalvakota appearing as the Resolution Professional.
For IA(IBC) 1398/2026, the matter was heard and reserved for orders. For IA (IBC)/1091/2026 in IA (IBC)/588/2026, the tribunal directed the respondent to file a counter within two weeks from the order date, with provision for rejoinder to be filed within one week thereafter if required.
Final Outcome
The tribunal adjourned the matter to November 13, 2026 for further hearing. The proceedings remain ongoing with no final resolution or admission/dismissal decision rendered in this order.
Topics: Insolvency Proceedings, Banking Litigation, Corporate Debt Resolution