Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: 09-06-2026
Case Overview
The National Company Law Tribunal, Hyderabad Bench heard multiple connected matters concerning M/s. Polygon Refractories Pvt Ltd. The main petition (CP No. 47/241/HDB/2023) was filed under Section 241 of the Companies Act, 2013 by Mr. M. Chandra Shekar Rao and 9 others against Mr. M Sai Sudhakar and 6 others. The hearing also included IA (CA) 07/2025 and two contempt applications (Cont App (CA) 01/2026 and 02/2026).
During the hearing, no one appeared for the Applicant in the main petition. Mr. Krishna Grandhi, Senior Counsel along with Mr. Avinash Alladi appeared for Respondents No.1, 3 and 4, while Mr. B Balaji appeared for Respondent No.2. No one appeared for the remaining respondents. The matter was adjourned to 11.08.2026 for hearing.
In Contempt Application (CA) 01/2026, despite service, none appeared for Respondent No.5, who was consequently set ex-parte. The Tribunal ordered paper publication against Respondent No.3 in one English and one vernacular language newspaper with wide circulation in the area where the respondent resides. The publication must be completed within 10 days from the order date, with proof of publication to be filed before the next hearing date. This matter was also adjourned to 11.08.2026.
In Contempt Application (CA) 02/2026, Mr. Krishna Grandhi, Senior Counsel along with Mr. Avinash Alladi took notice on behalf of Respondents No.1 and 2. They were directed to file vakalat and counter within two weeks, with any rejoinder to be filed within two weeks thereafter. Notice was ordered to be issued to the other respondents by registered/speed post and through email. The matter was adjourned to 11.08.2026 for filing proof of service.
Final Outcome
All matters were adjourned to August 11, 2026, with specific procedural directions for contempt applications including ex-parte proceedings, newspaper publications, and filing deadlines for various respondents.
Topics: NCLT Proceedings, Corporate Dispute, Adjournment