Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: 12-06-2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench heard an insolvency petition filed under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC). The petition was initiated by IDBI Bank Ltd. as the Financial Creditor against Mr. N. Anji Reddy (Respondent 1/Personal Guarantor) and M/s. Kanakadhara Ventures Pvt Ltd. (Respondent 2/Corporate Debtor). The hearing was conducted in hybrid mode (VC and physical) on 12-06-2026 at 12:05 PM before a bench comprising Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri.
Final Outcome
The NCLT appointed Ms. Azra Banu (IBBI Registration No: IBBI/IPA-001/IP-P00955/2017-2018/11576, validity until 31-12-2026) as the Resolution Professional for this matter. The RP's contact details were recorded as Phone No: 8555058841 and email: caazra27[at]gmail[dot]com. The Tribunal directed the Resolution Professional to submit her report under Section 99 of IBC within 10 days. IDBI Bank was directed to issue notice to the respondent and file proof of service by way of an affidavit. The remuneration of the Resolution Professional was fixed at ₹50,000 (Rupees Fifty Thousand only), to be paid by the Financial Creditor (IDBI Bank). The matter was adjourned to 01 September 2026 for further proceedings.
Topics: Insolvency Proceeding, NCLT Order, Banking Debt