Authority: National Company Law Tribunal, Hyderabad Bench – II
Order Date: 15 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench-II heard three interconnected applications (IA (IBC)/2363/2024, IA (IBC)/1839/2024, and IA (IBC)/2118/2024) within the main Company Petition IB/03/95/HDB/2021 filed under Section 95 of the Insolvency and Bankruptcy Code (IBC). The petition was initiated by State Bank of India as the petitioner against individual respondent Mr. L Madhusudhan Rao. The bench comprised Shri Rajeev Bhardwaj (Member-Judicial) and Shri Sanjay Puri (Member-Technical).
For IA (IBC)/2363/2024, Mr. Rohit Kumar appeared as counsel for the Applicant/Petitioner, while no representation appeared for the Resolution Professional/Respondent No. 1. Similarly, for IA (IBC)/1839/2024, Mr. Rohit Kumar appeared for the Applicant/Petitioner, with no appearance for the Resolution Professional/Respondent No. 1, but Mr. GP Yash Vardhan appeared for Respondent No. 2. For IA (IBC)/2118/2024, no one appeared for the Resolution Professional/Applicant, while Mr. Rohit Kumar appeared for the Respondent/Petitioner.
In all three applications, the respective counsel for the petitioners stated that stay orders had already been extended by the National Company Law Appellate Tribunal (NCLAT). The NCLT directed these counsel to file copies of the relevant NCLAT orders extending the stay.
Final Outcome
The NCLT Hyderabad Bench adjourned all three applications to 10 August 2026, pending the filing of the NCLAT stay order copies. The proceedings remain stayed until the next hearing date.
Topics: Insolvency Proceedings, Banking Litigation, NCLT Adjournment