Authority: National Company Law Tribunal, Hyderabad Bench - II
Order Date: 09 June 2026
Case Overview
This order pertains to Company Petition IB/93/95/HDB//2026 filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition was filed by IDBI Bank Limited as the Financial Creditor against V. Satish in the matter of Prithvi Information Solution Limited as the Respondent. The hearing was conducted in hybrid mode (VC and physical) before a bench comprising Shri Rajeev Bhardwaj (Hon'ble Member - Judicial) and Shri Sanjay Puri (Hon'ble Member - Technical). Mr. G.P. Yash Vardhan represented the petitioner as Learned Counsel.
The tribunal heard the arguments from the petitioner's counsel and reviewed the case records. The principal matter involves the initiation of insolvency resolution proceedings against the corporate debtor, Prithvi Information Solution Limited, by its financial creditor, IDBI Bank Limited.
Final Outcome
The NCLT appointed Kalvakolanu Murali Krishna Prasad as the Resolution Professional for this case. The appointed RP holds IBBI Registration No. IBBI/IPA001/IP-P00967/2017-18/11588, with validity until 30 June 2027, and provided contact details (Phone: 9866512532, Email: kmk123ip@gmail.com). The Resolution Professional was directed to submit his report under Section 99 of the IBC within 10 days from the order date.
Additionally, the petitioner (IDBI Bank) was directed to issue notice to the respondent and file proof of service by way of an affidavit. The matter has been adjourned to 28 July 2026 for further proceedings.
Topics: Corporate Insolvency, NCLT Proceedings, Debt Resolution