Authority: National Company Law Tribunal, Hyderabad Bench – II
Order Date: 11 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench – II heard an application (IA (IBC)/853/2026) filed within the main Company Petition IB/25/95/HDB/2021. The petition was filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The proceedings involved State Bank of India as the Petitioner (Financial Creditor) and C Swamy Reddy as the Respondent (Personal Guarantor). The hearing was conducted in a hybrid mode (VC and Physical) on 11 June 2026 at 10:30 AM before a bench comprising Hon'ble Member (Judicial) Shri. Rajeev Bhardwaj and Hon'ble Member (Technical) Shri. Sanjay Puri. The Learned Resolution Professional, Mr. Krishna Mohan Gollamudi, was present for the hearing. The tribunal noted that no Resolution Plan had been received from the Personal Guarantor (C Swamy Reddy).
Final Outcome
The NCLT Bench concluded that it was not possible to resolve the personal insolvency of C Swamy Reddy. The application (IA (IBC)/853/2026) was accordingly allowed and disposed of. The tribunal directed the Financial Creditor, State Bank of India, to file a formal Bankruptcy application against the Personal Guarantor as per the provisions of the law.
Topics: Insolvency Proceedings, Banking, NCLT Order