Authority: National Company Law Tribunal Amaravati Bench
Order Date: 16 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Amaravati Bench heard a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Financial Creditor, Tata Capital Ltd, filed the petition against the Corporate Debtor, Omkara Vijayalakshmi Strips Pvt Ltd. During the hearing, counsel for both parties were present. The counsel for the Corporate Debtor submitted that they could not file the Vakalat and counter on the previous day due to technical glitches in the e-filing portal and therefore sought additional time to file these documents. The counsel for the Financial Creditor submitted that they had not received the counter affidavit from the Corporate Debtor.
Final Outcome
The bench granted the time requested by the Corporate Debtor's counsel. The Corporate Debtor's counsel was directed to serve a copy of the counter affidavit on the Financial Creditor's counsel during the course of the day. The matter was adjourned and listed for the next hearing on 19 June 2026 for further consideration. The order was signed by both members of the bench: Shri Kishore Vemulapalli (Member Judicial) and Shri Umesh Kumar Shukla (Member Technical).
Topics: Corporate Insolvency, NCLT Proceeding, Financial Debt