Authority: National Company Law Tribunal, Amaravati Bench
Order Date: 16 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Amaravati Bench, comprising Judicial Member Shri Kishore Vemulapalli and Technical Member Shri Umesh Kumar Shukla, heard Item No.11 CP (IB)/13/7/AMR/2026. The matter involves an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 filed by Union Bank of India (Financial Creditor) against Omkara Vijayalakshmi Strips Pvt Ltd (Corporate Debtor).
During the hearing, counsel for both parties were present. The Corporate Debtor's counsel, Mr. V. Sai Mallik, submitted that he could not file the Vakalat (power of attorney) and counter affidavit on the previous day due to technical glitches in the e-filing portal. He sought additional time to complete these filings. The Financial Creditor's counsel, Mr. P. Rama Krishna, confirmed that he had not yet received the counter affidavit from the opposing party.
The Tribunal granted the requested time extension to 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.
Final Outcome
The NCLT adjourned the matter and listed it for further consideration on June 19, 2026. The order allows the Corporate Debtor to complete the necessary filings while ensuring the Financial Creditor receives the counter affidavit for review before the next hearing.
Topics: Insolvency Proceedings, NCLT Adjournment, Banking Dispute