Authority: National Company Law Tribunal, Amaravati Bench

Order Date: 16 June 2026

Case Overview

The National Company Law Tribunal (NCLT) Amaravati Bench, comprising Member (Judicial) Shri Kishore Vemulapalli and Member (Technical) Shri Umesh Kumar Shukla, heard three interconnected applications related to the liquidation proceedings of Sri Ananda Lakshmi Narasimha Industries India Private Limited. The corporate debtor was admitted into liquidation on 19 December 2024 following an insolvency petition filed by financial creditor Central Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Madasa Kumar serves as the Liquidator for the corporate debtor.

The tribunal considered three applications:

1. IA (IBC)/245/2026: An application where the Liquidator appeared via video conference and sought two weeks to file a reply. The registry was directed to issue notice to R2/CoC through Speed Post, with proof of service required. The matter was listed for further consideration on 21 July 2026.

2. IA (IBC)/216/2026: Filed by the Liquidator under Section 60(5) of the IBC, 2016 read with Rule 11 of the NCLT Rules, 2016 and Regulation 44(2) of the IBBI (Liquidation Process) Regulations, 2016, seeking extension of the liquidation period by 90 days commencing from 18 May 2026 until 15 August 2026. The Liquidator submitted that the Stakeholders Consultation Committee (SCC) in its 9th meeting held on 8 June 2026 had resolved to seek this extension with 99.87% voting support under Agenda Item No. 4.

3. IA (Liq.) (Progress Report)/28/2026: Filed by the Liquidator under Regulation 15 of the IBBI (Liquidation Process) Regulations, 2016 seeking to take on record the 6th Progress Report for the quarter ending 31 March 2026.

Final Outcome

The NCLT granted the following orders:

  • IA (IBC)/216/2026 was allowed and disposed of, extending the liquidation period for 90 days from 18 May 2026 to 15 August 2026 to complete the liquidation process.
  • IA (Liq.) (Progress Report)/28/2026 was allowed and disposed of, with the 6th Progress Report taken on record subject to just exceptions. The tribunal clarified that this order does not constitute acceptance or rejection of any averments in the application/report.
  • IA (IBC)/245/2026 was adjourned to 21 July 2026 for further consideration, with the Liquidator granted two weeks to file his reply and R2 granted two weeks to file its counter after receiving notice.

Topics: Corporate Insolvency, Liquidation Process, NCLT Proceedings