Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: June 12, 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench heard an insolvency petition filed by Punjab National Bank under Section 95 of the Insolvency and Bankruptcy Code, 2016. The petition was filed against Mrs. Suneeta Sharma as a personal guarantor in the matter of M/s. Saptarishi Hotels Pvt., Ltd. The bench comprised Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri. Representatives included Mr. Peri Rama Krishna (counsel for the creditor), Mr. Surya Prakash (counsel for the personal guarantor), and Mr. K. Vatsa Kumar (Resolution Professional).
Final Outcome
The tribunal granted three weeks' time for filing counter and objections to the Resolution Professional's report. Any rejoinder must be filed within two weeks thereafter. The matter has been adjourned to August 3, 2026, for further proceedings.
Topics: Personal Guarantor Insolvency, Banking Recovery, NCLT Proceedings