Case Details
Case Name: Axis Bank Ltd vs Lanco Kondapalli Power Ltd
Court/Authority: National Company Law Tribunal, Hyderabad Bench - II
Case Number: CP (IB) No.678/7/HDB/2018 U/s 7 of IBC
Hearing Date: 20 May 2026
Presiding Members: Shri Rajeev Bhardwaj (Hon'ble Member - Judicial), Shri Sanjay Puri (Hon'ble Member - Technical)
Parties Involved
Petitioner: Axis Bank Ltd
Respondent: Lanco Kondapalli Power Ltd
Liquidator: Mr. Vasta Kumar (Respondent No. 2)
Legal Representatives:
- Mr. Sameer Kumar (Counsel for Applicant in IA/781/2026)
- Mr. Puneet Yadav (Counsel for Respondent No. 1)
- Mr. Sourabh Gupta (Counsel for Applicant in IA/1769/2024, IA/65/2026, and Contempt Petition)
- Ms. Siva Praneetha (Counsel for Respondents in multiple applications)
Proceedings Summary
IA (IBC)/781/2026
- Present: Mr. Sameer Kumar (Applicant's Counsel), Mr. Puneet Yadav (Respondent No. 1 Counsel), Mr. Vasta Kumar (Liquidator/Respondent No. 2)
- Mr. Puneet Yadav accepted service on behalf of Respondent No. 1
- Tribunal granted time for filing Vakalat and Counter within 10 days
- Rejoinder, if any, to be filed within next 7 days thereafter
- Matter adjourned to 08 June 2026
IA (IBC)/1769/2024
- Present: Mr. Sourabh Gupta (Applicant's Counsel), Ms. Siva Praneetha (Counsel for Respondents No. 1 & 2)
- Pleadings stand completed
- Matter adjourned for hearing to 24 June 2026
IA (IBC)/65/2026 and Contempt Petition (IBC)/01/2026
- Present: Mr. Sourabh Gupta (Applicant's Counsel), Ms. Siva Praneetha (Counsel for Respondents)
- Counter has been filed
- Time granted for filing rejoinder, if any, within next 2 weeks
- Matter adjourned to 24 June 2026
Current Status
All matters remain pending with adjourned dates in June 2026. The substantive issues of the insolvency proceedings, allegations, and contempt matters are yet to be heard on merits. The order primarily deals with procedural aspects of the ongoing litigation.