Authority: National Company Law Tribunal, Hyderabad Bench - II
Order Date: 18 June 2026
Case Overview
This proceeding involves a petition filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Union Bank of India (Financial Creditor) against Manju Dugar in the matter of Jeevan Polymers Pvt Ltd (Respondent). The petition was heard in hybrid mode (VC and physical) by a bench consisting of Shri Rajeev Bhardwaj (Hon'ble Member - Judicial) and Shri Sanjay Puri (Hon'ble Member - Technical). Mr. GP Yash Vardhan represented the Financial Creditor as learned counsel.
Final Outcome
The Tribunal appointed Mr. Venugopal Kaspa (Registration No. IBBI/IPA-001/IP-P-01661/2019-2020/12580, validity until 30 June 2027) as the Resolution Professional in this matter. The RP is directed to submit his report under Section 99 of IBC within 10 days. The Financial Creditor was directed to issue notice to the Respondent and file proof of service by way of an affidavit. The remuneration of the RP was fixed at Rs. 50,000 (Rupees Fifty Thousand only), payable by the Financial Creditor. The matter has been adjourned to 20 August 2026 for further proceedings.
Topics: Insolvency Proceeding, NCLT Order