NCLT Amaravati Issues Summons to Bank and Tax Authorities in Insolvency Case

Authority: National Company Law Tribunal, Amaravati Bench

Order Date: July 17, 2026

Case Overview

This interim application (IA (IBC)/154/2026) arises from the main corporate insolvency resolution process (CIRP) against Suvarnabhoomi Infra Developers Pvt Ltd (CP (IB)/57/7/AMR/2024), which was admitted on January 20, 2026. The application involves two respondents: Axis Bank (Respondent No. 1) and the Deputy Commissioner of Income Tax (Respondent No. 2). The Tribunal has been attempting to secure their participation in the proceedings.

On June 1, 2026, the Registry was directed to issue notices to both respondents, and the applicant's counsel was permitted to serve personal notice. On June 24, 2026, it was noted that the notice to Axis Bank had been returned undelivered, while the notice to the Income Tax Department was delivered. The Income Tax Department had requested a copy of the application via email, which was provided. Fresh notice was ordered for Axis Bank, and the Income Tax Department was granted two weeks to file its reply.

The Registry issued fresh notice to Axis Bank, which was delivered on July 10, 2026. However, as of the hearing on July 17, 2026, neither respondent had appeared or filed any reply. The Resolution Professional, Mr. K.J. Vinod, stated that this non-cooperation was preventing him from moving forward with the CIRP proceedings of the corporate debtor.

The Tribunal noted "serious laches" (negligence or delay) on the part of both Axis Bank and the Income Tax Department authorities.

Final Outcome

The Tribunal ordered that notice be issued to the Managing Director & Chief Executive Officer of Axis Bank and the Principal Chief Commissioner of Income Tax, Andhra Pradesh & Telangana, requiring them to appear via video conferencing at the next hearing. The Registry was directed to send copies of the order immediately by RPAD/Speed Post and email to both officials and place proof of service on record. The matter is listed for further consideration on July 31, 2026.

Topics: Corporate Insolvency, Regulatory Compliance, Judicial Summons