Authority: National Company Law Tribunal, Hyderabad Bench - II
Order Date: 06 July 2026
Case Overview
The matter involves an insolvency petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC) by SREI Equipment Finance Ltd as the financial creditor against Amara Resources Ltd as the corporate debtor. The hearing was conducted in hybrid mode (VC and physical) before a bench comprising Hon'ble Member (Judicial) Shri Rajeev Bhardwaj and Hon'ble Member (Technical) Shri Sanjay Puri. Legal representation was present for both parties: Mr. Prasoon Das appearing for the petitioner (SREI Equipment Finance) and Ms. Sravya appearing for the respondent (Amara Resources).
The respondent had filed a counter to the petition, but it remains under the defect list, meaning it requires technical corrections before being formally accepted by the tribunal.
Final Outcome
The NCLT directed the respondent to cure all defects in the counter filing within three days from the order date (by 09 July 2026). Subsequently, the petitioner is granted two weeks (until approximately 23 July 2026) to file a rejoinder, if necessary. The matter has been adjourned to 17 August 2026 for further hearing.
Topics: Insolvency Proceedings, Corporate Debt, NCLT Hearing