Authority: National Company Law Tribunal, Hyderabad Bench – II
Order Date: 18 June 2026
Case Overview
This order pertains to Company Petition IB/100/95/HDB/2026 filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition was filed by Union Bank of India (Financial Creditor) against Pooja Choraria in the matter of Jeevan Polymers Pvt Ltd (Respondent). The bench consisted of Shri Rajeev Bhardwaj (Hon'ble Member Judicial) and Shri Sanjay Puri (Hon'ble Member Technical).
The tribunal heard the learned counsel for the Financial Creditor and perused the records. The principal proceeding involves the initiation of an insolvency resolution process against the personal guarantor (Pooja Choraria) of the corporate debtor, Jeevan Polymers Pvt Ltd.
Final Outcome
The NCLT appointed Mr. Venugopal Kaspa as the Resolution Professional (RP) for this matter. Mr. Kaspa's registration details are IBBI/IPA-001/IP-P-01661/2019-2020/12580, with validity until 30 June 2027, phone number 9676444138, and email kaspavenugopal@gmail.com. The RP was directed to submit his report under Section 99 of IBC within 10 days from the order date. The Financial Creditor was directed to issue notice to the respondent and file proof of service by way of an affidavit. The RP's remuneration was fixed at ₹50,000 (Rupees Fifty Thousand only), to be paid by the Financial Creditor. The matter was adjourned to 20 August 2026 for further proceedings.
Topics: Insolvency Proceeding, Banking, NCLT