Authority: National Company Law Tribunal, Amaravati Bench
Order Date: 16.06.2026
Case Overview
The National Company Law Tribunal (NCLT) Amaravati Bench heard an application filed by the Resolution Professional under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of the NCLT Rules, 2016. The application sought to extend the period of the Personal Insolvency Resolution Process (PIRP) in respect of the Personal Guarantor, Sri. Rebba Satish, by a further period of 30 days with effect from 14.05.2026.
The Counsel for the Resolution Professional submitted that the Creditors in their 4th meeting held on 04.05.2026, through Agenda Item No. 3, had unanimously passed a resolution with 100% voting share to extend the period of PIRP by a further period of 30 days. The Tribunal considered the resolution passed by the Committee of Creditors and determined that the extension was warranted.
Final Outcome
The NCLT Amaravati Bench allowed the application and extended the PIRP period by 30 days with effect from 14.05.2026 till 12.06.2026 for conducting the Personal Insolvency Resolution Process in respect of the Personal Guarantor, Sri. Rebba Satish. The application IA (IBC)/223/2026 was disposed of accordingly.
Topics: Insolvency Proceedings, Banking Sector, NCLT Order