NCLT Extends Kudumula Prabhakar Reddy PIRP by 90 Days

Authority: National Company Law Tribunal (NCLT), Hyderabad Bench – II

Order Date: 29 June 2026

Case Overview

This order pertains to Interim Application (IA) No. (IBC)/934/2026, which was filed within the main Company Petition IB/67/95/HDB/2025 under Section 95 of the Insolvency and Bankruptcy Code (IBC). The petitioner is Punjab National Bank, and the respondent is Kudumula Prabhakar Reddy. The application was specifically moved to seek an extension of the Personal Insolvency Resolution Process (PIRP) period. The hearing was conducted in a hybrid mode (both VC and physical) on 29 June 2026 at 10:30 A.M. before a bench consisting of Hon'ble Member (Judicial) Shri. Rajeev Bhardwaj and Hon'ble Member (Technical) Shri. Sanjay Puri. Mr. Varun Ambati, the learned counsel, represented the applicant during the proceedings.

Final Outcome

The NCLT allowed the application. The PIRP period was extended by 90 days, effective from 21 May 2026 to 19 August 2026. Consequently, the application (IA (IBC)/934/2026) was disposed of.

Topics: Insolvency Resolution, Banking, NCLT Proceedings