Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: 16 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench heard two interim applications [IA(IBC) 341/2026 and IA(IBC) 342/2026] in the main insolvency petition CP (IB) No. 335/7/HDB/2022. The petition was filed by State Bank of India (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016 against M/s. G S Biotech Limited (Corporate Debtor). The bench comprised Judicial Member Shri Rajeev Bhardwaj and Technical Member Shri Sanjay Puri. The hearing was conducted in hybrid mode (virtual and physical attendance).
Final Outcome
The NCLT adjourned both interim applications to 03 August 2026. The tribunal directed the respondents (identified as Respondent No.1 and Respondent No.2) to file their vakalat (power of attorney) and counter affidavits within three weeks from the order date. The applicants were given two weeks thereafter to file rejoinders, if any. The matters remain pending for further consideration on the next hearing date.
Topics: Insolvency Proceeding, Banking Dispute, NCLT Hearing