Authority: National Company Law Tribunal, Bengaluru Bench (Special Bench)
Order Date: 29 June 2026
Case Overview
The National Company Law Tribunal, Bengaluru Bench, heard an insolvency petition filed by Canara Bank against Mr. Vijaykumar R under Section 95(1) of the Insolvency and Bankruptcy Code, 2016. The matter was heard by a Special Bench consisting of Hon'ble Member (Judicial) Shri Sunil Kumar Aggarwal and Hon'ble Member (Technical) Shri Banwari Lal Meena. The Resolution Professional (RP), Shri Ravindra Beleyur, was present for the proceedings. The tribunal noted that the RP's report had not been received and is still awaited.
Final Outcome
The tribunal directed that once the RP's report is received, copies shall be forwarded to learned counsel for both parties. The parties are granted 3 weeks from receipt to file any objections or observations to the report, with copies to be served to the opposing side. Following this, the RP may file a rejoinder to any objections within a further 3 weeks, with copies to concerned quarters. The matter has been listed for the next hearing specifically on the RP report on 27 August 2026.
Topics: Insolvency Proceeding, Banking Debt, NCLT Hearing