Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: 19-06-2026
Case Overview
This hearing concerns Contempt Application (IBC) 3/2023 filed within the main insolvency petition CP (IB) No. 677/7/HDB/2018, which was originally initiated by State Bank of India as Financial Creditor against VMC Systems Ltd as Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code, 2016. The matter is currently in the liquidation phase. The hearing was conducted in hybrid mode (virtual and physical) before a bench comprising Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri.
Final Outcome
The Tribunal adjourned the matter to July 6, 2026. The Liquidator was absent during the hearing. The respondent's counsel, Mr. B Nitish, was directed to file the latest status of the stay granted by the Hon'ble High Court of Telangana, which appears to be affecting the liquidation proceedings.
Topics: Insolvency Proceedings, Corporate Liquidation, Court Stay