Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: July 6, 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench heard an insolvency petition filed by Power Finance Corporation Ltd. under Section 95 of the Insolvency and Bankruptcy Code, 2016 against Mr. Medipally Pratap Reddy in his capacity as a personal guarantor. The hearing was conducted in hybrid mode (virtual and physical attendance) before a bench comprising Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri. Representatives included Mr. Sagar Arora for the petitioner (Power Finance Corporation), Mr. Nikhil Patak for the personal guarantor (Mr. Medipally Pratap Reddy), and Mr. Naresh as proxy counsel for the Resolution Professional.
The tribunal directed the counsel for the personal guarantor to file formal objections to the Resolution Professional's report along with a counter within two weeks from the order date. The petitioner was granted one week thereafter to file a rejoinder, if necessary.
Final Outcome
The matter was adjourned to August 10, 2026, for further proceedings. The case remains pending with no final determination on the insolvency petition at this stage.
Topics: Insolvency Proceedings, Personal Guarantee, NCLT Hearing