Authority: National Company Law Tribunal, Hyderabad Bench – 1
Order Date: 12-06-2026
Case Overview
This is an insolvency petition, CP (IB) No. 85/95/HDB/2026, filed under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC) by IDBI Bank Ltd. as the Financial Creditor (Petitioner). The respondents are Shri Susheel Kumar Bansal (Respondent 1 / Personal Guarantor) and M/s. Kanakadhara Ventures Pvt Ltd. (Respondent 2 / Corporate Debtor). The bench comprised Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri. The hearing was held in a hybrid mode (VC and Physical) on 12-06-2026 at 12:05 PM. Mr. GP Yash Vardhan represented the Creditor. The Tribunal heard the Learned Counsel for the Creditor and perused the records.
Final Outcome
The NCLT appointed Mr. Kalvakolanu Murali Krishna Prasad as the Resolution Professional (RP) for this matter. His IBBI Registration details are IP No. IBBI/IPA-001/IP-P00967/2017-2018/11588, valid until 30-06-2027, with contact phone number 9866512532 and email id kmk123ip@gmail.com. The RP is directed to submit his report under Section 99 of the IBC within 10 days. The Petitioner (IDBI Bank Ltd.) is directed to issue notice to the Respondents and file proof of service by way of an affidavit. The remuneration of the RP is fixed at ₹50,000 (Rupees Fifty Thousand only), to be paid by the Financial Creditor. The matter has been adjourned to 01.09.2026 for further proceedings.
Topics: Insolvency Proceeding, NCLT Order, Corporate Debtor