Authority: National Company Law Tribunal, Bengaluru Bench
Order Date: June 9, 2026
Case Overview
The National Company Law Tribunal (NCLT), Bengaluru Bench, comprising Judicial Member Shri Sunil Kumar Aggarwal and Technical Member Shri Radhakrishna Sreepada, heard matters related to IA (IBC) 150/2026, 341/2026, and 511/2026 in the main corporate petition CP(IB) No. 249/BB/2024. The petition was filed by Maximus ARC Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Sri Balaji Cement & Power Ltd. The proceedings were conducted through physical hearing/VC mode (hybrid). Representation included Shri Srinivasulu for the petitioner and Ms. JVL Bharathi for the respondent (RP).
Final Outcome
The tribunal issued a procedural order specifically for IA (IBC) 511/2026, notifying the respondents/RP about the application. The bench granted two weeks for the respondent to file objections, followed by two additional weeks for the applicant to file a rejoinder, with direct exchange of copies between parties. The main corporate petition (CP(IB) No. 249/BB/2024) along with orders in IA No. 150/2026 and 341/2026 were adjourned and listed for the next hearing on June 24, 2026.
Topics: Insolvency Proceeding, NCLT Order, Corporate Debt