IN THE NATIONAL COMPANY LAW TRIBUNAL AMARAVATI BENCH ORDER
Authority: National Company Law Tribunal, Amaravati Bench
Order Date: 13 July 2026
Case Number: IA(IBC)/268/2026 in CP(IB)/57/95/AMR/2023
Case Overview
This matter concerns an application filed by the Resolution Professional under Rule 11 of the NCLT Rules, 2016, seeking extension of the Personal Insolvency Resolution Process (PIRP) timeline. The application was made in the ongoing insolvency proceedings between IndusInd Bank Limited (Petitioner/Creditor) and respondents Nukala Udaya Durga & Vamsee Teja Modern Rice Mill Pvt Ltd, admitted on 3 June 2025 under Section 95 of the Insolvency and Bankruptcy Code, 2016.
The Resolution Professional sought a further extension of 64 days for the PIRP, specifically from 29 June 2026 to 31 August 2026. The purpose of this extension was to enable the sole Financial Creditor, IndusInd Bank Ltd., to consider, approve, and vote upon the Revised Repayment Plan, thereby facilitating successful completion of the PIRP.
The Committee of Creditors (CoC), consisting solely of IndusInd Bank Ltd., had in its 3rd Meeting held on 10 June 2026, through Agenda Item No. B1, resolved to seek this extension of the PIRP period for 64 days.
Final Outcome
The NCLT Bench comprising Shri Kishore Vemulapalli (Member Judicial) and Shri Umesh Kumar Shukla (Member Technical) allowed the application and granted the 64-day extension of the PIRP period from 29 June 2026 to 31 August 2026. However, the Tribunal made a crucial clarification referencing the recent NCLAT judgment in Purushottam Behera vs. State Bank of India & Ors. (Company Appeal (AT) (Ins.) No. 258 of 2026 decided on 26 February 2026), stating that this extension of the PIRP period shall not mean extension of the moratorium, whose outer limit remains 180 days.
The application IA(IBC)/268/2026 was accordingly allowed and disposed of.
Topics: Insolvency Resolution, Moratorium Limitations