Authority: National Company Law Tribunal, Hyderabad Bench – 1
Order Date: 09-06-2026
Case Overview
This document is an attendance cum order sheet from a hearing held by the National Company Law Tribunal (NCLT), Hyderabad Bench. The proceedings are part of Corporate Insolvency Resolution Process (CIRP) case CP (IB) No. 65/7/HDB/2023, initiated u/s. 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The case involves Canara Bank as the Financial Creditor and M/s. Versatile Pharma Pvt Ltd. as the Corporate Debtor. The hearing, presided over by a bench comprising Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri, was conducted in a hybrid mode (VC and Physical) on 09-06-2026 at 11:55 A.M.
The hearing addressed two specific Interlocutory Applications (IAs):
1. IA (IBC) 757/2026 in IA (IBC) (Liq) 03/2026: For this application, legal representation was present from multiple parties: Mr. PN Praveen Kumar (Counsel for the Applicant), Mr. M Viswaraj (Counsel for Respondent No.1), Mr. Prasoon Das (Counsel for Respondent No.2), Mr. GP Yash Vardhan (Counsel for Respondent No.3), and the Resolution Professional, Mr. KMK Prasad.
2. IA (IBC) (Liq) 03/2026: For this application, Mr. M Viswaraj appeared as the Learned Counsel for the Applicant, and Mr. KMK Prasad, the Resolution Professional, was also present.
After hearing the arguments from all concerned parties for both applications, the Bench reserved its orders. This means the Tribunal will issue its decisions on these applications at a later date.
Final Outcome
The final orders on the two interlocutory applications (IA (IBC) 757/2026 and IA (IBC) (Liq) 03/2026) have been reserved by the NCLT Hyderabad Bench. The outcome of these applications and their implications for the overall CIRP of Versatile Pharma Pvt Ltd. remain pending until the orders are pronounced.
Topics: Insolvency Proceeding, NCLT Hearing