NCLT Hyderabad Reserves Order in IL&FS Financial Services Case

IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH – II VC AND PHYSICAL (HYBRID) MODE ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON 19.06.2026 AT 10:30 A.M.

Authority: National Company Law Tribunal, Hyderabad Bench – II

Order Date: 19 June 2026

Case Overview

The hearing concerned Interim Application IA (IBC)/1138/2024 filed in Company Petition IB/4/2022 under Section 7 of the Insolvency and Bankruptcy Code (IBC). The petition was filed by IL & FS Financial Services Ltd as the Petitioner against Bharat Waterfront Pvt Ltd as the Respondent. The matter was heard by a bench comprising Shri Rajeev Bhardwaj, Hon'ble Member (Judicial) and Shri Sanjay Puri, Hon'ble Member (Technical).

Representation included Ms. Pranathi Kasturi as counsel for the Applicant, Mr. DVAS Ravi Prasad as counsel for Respondents No.1&2, and Mr. M.M. Viswaraj as counsel for Respondent No.3. After hearing the arguments, the bench reserved the matter for orders.

The tribunal directed Mr. M.M. Viswaraj, counsel for Respondent No.3, to file written submissions not exceeding two pages within three days from the date of the hearing.

Final Outcome

The bench reserved its orders on the interim application. The final ruling will be delivered after consideration of the written submissions from Respondent No.3's counsel.

Topics: NCLT Proceedings, Corporate Insolvency