Authority: National Company Law Tribunal, Hyderabad Bench - II
Order Date: 15 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench-II heard an application numbered IA (IBC)/851/2026 within Company Petition (IB)/182/95/HDB/2021. The petition was filed by State Bank of India under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) against respondents Basani Mar Reddy and Indu Projects Ltd. The hearing was conducted in a hybrid mode (both VC and physical attendance) on 15 June 2026 at 10:30 AM. The bench comprised Hon'ble Member (Judicial) Shri Rajeev Bhardwaj and Hon'ble Member (Technical) Shri Sanjay Puri. Legal counsel Ms. Vazra Laxmi, along with Mr. Kasi Srinivas (the Bankruptcy Trustee), were present for the proceedings.
Final Outcome
The bench issued a directive for notice to be served upon the respondents (Basani Mar Reddy & Indu Projects Ltd) through registered post, speed post, and email. The matter was adjourned to 20 July 2026 for the filing of proof of service. No substantive hearing on the merits of the case occurred.
Topics: Insolvency Proceeding, Banking Dispute, NCLT Hearing