Authority: National Company Law Tribunal, Hyderabad Bench – 1
Order Date: 22-06-2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench heard three Interlocutory Applications (IAs) related to the corporate insolvency resolution process of Suryachakra Power Corporation Ltd., initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016 by financial creditor State Bank of India. The bench comprised Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri.
IA (IBC) 1491/2025: The applicant was directed to file essential documents, including the auction notice and other process documents, within two weeks as they were deemed material to determine the controversy. The matter was adjourned to 27.07.2026.
IA (IBC) 1492/2025: The applicant sought to withdraw this application. Accordingly, the NCLT dismissed it as withdrawn.
IA (IBC) 1877/2023 in IA No. 462/2021: Counsel for SREI informed the tribunal of a stay order from the National Company Law Appellate Tribunal (NCLAT). The tribunal directed that a copy of this stay order be filed along with a memo within two weeks, failing which it would proceed with the IA. This matter was also adjourned to 27.07.2026.
Final Outcome
The primary outcome of the hearing was the adjournment of two substantive applications (IA 1491/2025 and IA 1877/2023) to 27 July 2026, contingent on the filing of specific documents. One application (IA 1492/2025) was dismissed as withdrawn. The corporate insolvency process of Suryachakra Power Corporation Ltd. remains ongoing.
Topics: Insolvency Proceedings, Legal Adjournment