Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: 16-07-2026
Case Overview
This hearing concerned an application (IA (IBC) 1009/2026) filed within the main Company Petition (CP (IB) No. 87/95/HDB/2026) under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition was initiated by IDBI Bank Ltd. as the financial creditor against Ms. P. Naga Lakshmi (Respondent 1 / Personal Guarantor) and M/s. Kanakadhara Ventures Pvt Ltd. (Respondent 2 / Corporate Debtor). The application was presented by the Resolution Professional (RP), Mr. KMK Prasad, seeking to formally admit his report into the court record.
Final Outcome
The bench, comprising Shri. Rajeev Bhardwaj (Member Judicial) and Shri. Sanjay Puri (Member Technical), allowed the application. The RP's report was taken on record and made a part of the main Company Petition. The tribunal issued specific directions: (1) The Resolution Professional is directed to serve a copy of the report on the Personal Guarantor (PG), Ms. P. Naga Lakshmi; (2) The Personal Guarantor is directed to file any objections to the contents of the RP report within three weeks from the order date; and (3) Should the PG file objections, any rejoinder by other parties must be filed within two weeks thereafter. The main company petition is already scheduled for its next hearing on 01.09.2026.
Topics: Insolvency Proceeding, Personal Guarantee, NCLT Order