Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: 11-06-2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench - 1 conducted a hearing in the matter of CP (IB) IB/153/7/HDB/2021, which involves Pridhvi Asset Reconstruction and Securitisation Company Ltd as the Financial Creditor and Sri Pavana Keerthi Hotels India Pvt Ltd as the Corporate Debtor. The hearing specifically addressed three interlocutory applications: IA (IBC) 1408/2024, IA (IBC) 1409/2024, and IA (IBC) 1410/2024 filed within the main corporate insolvency resolution process case initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016. The hearing was conducted in a hybrid mode (both virtual and physical attendance) on June 11, 2026, at 1:05 PM.
Final Outcome
The bench, comprising Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri, noted that while the Liquidator (Mr. GV Subba Rao) and his Learned Counsel (Mr. M Rama Rao) were present, none appeared for the Respondents. Consequently, the respondents were set ex-parte. After hearing the submissions, the bench reserved the matter for orders on all three interlocutory applications.
Topics: Insolvency Proceedings, NCLT Hearing, Corporate Debtor