Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: 06-07-2026
Case Overview
The hearing pertains to Cont. A (IBC) 3/2023 in the main insolvency petition CP (IB) No. 677/7/HDB/2018 filed by State Bank of India (Financial Creditor) against VMC Systems Ltd (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The matter was heard by a bench comprising Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri.
Final Outcome
The Tribunal noted that there was no representation from either party during the hearing. The status of a stay order previously passed by the Hon'ble High Court of Telangana had not been filed with the Tribunal. Both parties were directed to file the status of the High Court stay order before the next date of hearing. The matter has been adjourned to 26.10.2026 for further proceedings.
Topics: Insolvency Proceeding, Adjournment, Banking Dispute