Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: 09-06-2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench heard two Interlocutory Applications (IAs) related to an insolvency petition filed by State Bank of India under Section 95 of the Insolvency and Bankruptcy Code, 2016. The petition involves State Bank of India as the Petitioner against Respondents Badri Kasturi and M/s. PPS Enviro Power Pvt 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.
For IA (IBC) 1464/2025, the Tribunal noted that despite being granted a final opportunity on the previous hearing date, Respondent No. 1 (Badri Kasturi) had failed to file their counter. While Learned Counsel for Respondent No. 1 sought another opportunity, the Tribunal determined that sufficient time had already been granted and officially closed the opportunity to file the counter. The matter was recorded as having completed pleadings.
For IA (IBC) 1633/2025, the Tribunal recorded that pleadings were completed with all parties represented.
Final Outcome
Both IA (IBC) 1464/2025 and IA (IBC) 1633/2025 were adjourned to August 11, 2026, for further hearing. The opportunity for Respondent No. 1 to file a counter in IA 1464/2025 has been permanently closed.
Topics: Insolvency Proceedings, Banking Litigation, NCLT Hearing