Authority: National Company Law Tribunal, Amaravati Bench
Order Date: 16 June 2026
Case Overview
The matter pertains to IA (IBC)/205/2026 in CP (IB)/35/123/AMR/2023, filed under Sections 123 and 60(5) of the Insolvency and Bankruptcy Code, 2016. The original petition was filed by Central Bank of India as Petitioner against Mr. Kothapatti Raju and M/s. Sri Ananda Lakshmi Narasimha Industries India Pvt. Ltd. as Respondents. During the hearing, the Applicant/Bankruptcy Trustee, Mr. Madasa Kumar, sought additional time to file a formal memo for withdrawal of the instant application. The request for withdrawal is being made with the approval of the Committee of Creditors.
Final Outcome
The NCLT Bench comprising Shri Kishore Vemulapalli (Member Judicial) and Shri Umesh Kumar Shukla (Member Technical) adjourned the matter to 22 June 2026 for further consideration of the Bankruptcy Trustee's withdrawal application. The tribunal has not made any final determination on the merits of the withdrawal request at this stage.
Topics: Insolvency Proceeding, Withdrawal Application