Authority: National Company Law Tribunal, Hyderabad Bench – II
Order Date: 29 June 2026
Case Overview
This order pertains to an application (IA (IBC)/933/2026) filed in the matter of Company Petition IB/66/95/HDB/2025 under Section 95 of the Insolvency and Bankruptcy Code (IBC). The petitioner is Punjab National Bank, and the respondent is Gunreddy Lakshmana Siva Reddy. The application sought an extension of the Personal Insolvency Resolution Process (PIRP) period by 90 days, effective from 21 May 2026 to 19 August 2026.
The hearing was conducted in a hybrid mode (VC and Physical) on 29 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. Mr. Varun Ambati represented the applicant as legal counsel.
Final Outcome
The Tribunal allowed the application and extended the PIRP period by 90 days, effective from 21 May 2026 to 19 August 2026. The application was disposed of accordingly.
Topics: Insolvency, Banking, NCLT