Authority: National Company Law Tribunal, Hyderabad Bench - II
Order Date: 09 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench heard three interconnected applications in the matter of CP (IB) no. 187/7/HDB/2020 filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). The original petition was filed by Axis Bank Ltd as the petitioner against RaigarhChampa Rail Infrastructure Pvt Ltd as the respondent corporate debtor. The bench comprised Hon'ble Member (Judicial) Shri Rajeev Bhardwaj and Hon'ble Member (Technical) Shri Sanjay Puri.
Three applications were heard:
1. IA (IBC)/846/2026 in IA(IBC)/755/2022: Filed to substitute the Successful Resolution Applicant (SRA) in place of the Resolution Professional (RP) in the main application IA(IBC)/755/2022.
2. IA (IBC)/869/2026: Filed to change the name of the corporate debtor to JSW Mahanadhi Power Company Ltd in place of JSW Mahanadhi Power Company Ltd (effectively a name correction).
3. IA (IBC)/755/2022: The main application in the insolvency proceeding.
Final Outcome
The tribunal allowed both applications:
- Application IA (IBC)/846/2026 was allowed, permitting the substitution of the Successful Resolution Applicant in place of the Resolution Professional in IA(IBC)/755/2022.
- Application IA (IBC)/869/2026 was allowed, approving the change in the corporate debtor's name to JSW Mahanadhi Power Company Ltd.
- The tribunal directed the filing of an amended cause title within one week and adjourned the matter to 25 August 2026 for further proceedings.
Topics: Corporate Insolvency, NCLT Proceedings, Debt Resolution