Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: 22 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench heard an insolvency petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The financial creditor, M/s. Prudent ARC Ltd. (acting in capacity of M/s. Prudent Trust 40/20), has initiated proceedings against the corporate debtor, M/s. NAC Quippo Equipment Services Ltd. The hearing was conducted in hybrid mode (VC and physical) before a bench comprising Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri. Learned Counsel Mr. Abhishek Dash represented the financial creditor, while Learned Counsel Ms. Neha Bhupathiraju represented the corporate debtor.
Final Outcome
The NCLT granted a final opportunity to the corporate debtor to file its counter within one week from the order date (by approximately 29 June 2026). The financial creditor was directed to file any rejoinder within two weeks after the counter submission (by approximately 13 July 2026). The matter has been adjourned to 27 July 2026 for further hearing.
Topics: Insolvency Proceedings, NCLT Hearing, Corporate Debt