NCLT Extends AKR Construction CIRP by 90 Days

Case Details

Case Name: In the matter of M/s. SREI Equipment Finance Ltd (Financial Creditor) AND AKR Construction Ltd (Corporate Debtor)

Court/Authority: National Company Law Tribunal (NCLT), Hyderabad Bench – 1

Case Number: CP(IB) No. 207/7/HDB/2022 AND I A (IBC) 817/2026 in CP(IB) No. 207/7/HDB/2022

Date of Hearing: 21-05-2026

Date of Order: 21-05-2026

Under Section: 7 of the Insolvency and Bankruptcy Code (IBC), 2016

Parties Involved

Petitioner/Financial Creditor: M/s. SREI Equipment Finance Ltd

Respondent/Corporate Debtor: AKR Construction Ltd

Interim Resolution Professional (IRP): Mr. Rajesh Chillale

Counsel for the Applicant: Mr. VVSN Raju

Bench: Sh. Rajeev Bhardwaj, Hon'ble Member (Judicial) and Sh. Sanjay Puri, Hon'ble Member (Technical)

Issues / Allegations / Violations

This is a procedural hearing for an application (I A (IBC) 817/2026) seeking an extension of the Corporate Insolvency Resolution Process (CIRP). The application did not pertain to new allegations or violations but was a request for more time to complete the ongoing resolution process.

Final Ruling & Enforcement

The NCLT Hyderabad Bench allowed the application. The CIRP for AKR Construction Ltd was extended by 90 days. The new deadline for completion of the CIRP is 22nd August 2026, calculated from the previous deadline of 24th May 2026. The application was disposed of accordingly.