Authority: National Company Law Tribunal, Hyderabad Bench – II
Order Date: 15.06.2026
Case Overview
This order sheet details the proceedings for three Interlocutory Applications (IAs) connected to Company Petition IB/02/95/HDB/2021, which was filed under Section 95 of the Insolvency and Bankruptcy Code (IBC). The petition involves State Bank of India as the Petitioner and Mrs. L Ramalakshmamma as the Respondent. The bench was comprised of Shri. Rajeev Bhardwaj, Member (Judicial), and Shri. Sanjay Puri, Member (Technical).
The hearing was conducted in a hybrid mode (VC and Physical). The principal matter for all three applications was the status of a stay order previously granted. Counsel for the parties reported that a stay order on the proceedings had already been extended by the National Company Law Appellate Tribunal (NCLAT).
For IA (IBC)/2374/2024 and IA (IBC)/1869/2024, Mr. Rohit Kumar, counsel for the Applicant (Petitioner/Financial Creditor), was present. The Resolution Professional (Respondent No.1) was absent for both. For IA (IBC)/1869/2024, Mr. GP Yash Vardhan, counsel for Respondent No.2, was also present. For IA (IBC)/2119/2024, no one appeared for the Applicant (the Resolution Professional), but Mr. Rohit Kumar was present for the Respondent (the Personal Guarantor).
Final Outcome
The Tribunal directed the counsel for the Petitioner/Personal Guarantor to file a copy of the NCLAT's order extending the stay. All three applications—IA (IBC)/2374/2024, IA (IBC)/1869/2024, and IA (IBC)/2119/2024—were adjourned to 10th August 2026 for further hearing.
Topics: Insolvency Proceeding, Legal Adjournment