Authority: National Company Law Tribunal, Hyderabad Bench - II
Order Date: 18 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench-II heard an application IA (IBC)/906/2026 filed in the matter of Company Petition IB/4/7/HDB/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 specific application sought to set aside an ex-parte order dated 08.06.2026 that was passed in IA (IBC)/1138/2024. The applicant stated that neither the applicant nor their counsel appeared on the previous hearing date (08.06.2026) due to unforeseen technical difficulties.
The bench comprised Hon'ble Member (Judicial) Shri Rajeev Bhardwaj and Hon'ble Member (Technical) Shri Sanjay Puri. During the hearing, Mr. M. Maharshi Viswaraj appeared as counsel for the applicant, while Mr. Varun Ambati appeared as counsel along with Mr. Murali Mohan, who was identified as the Chevuturi Liquidator.
Final Outcome
The NCLT allowed the application and set aside the ex-parte order dated 08.06.2026. The tribunal accepted the explanation regarding technical difficulties that prevented the counsel's appearance. Consequently, IA (IBC)/1138/2024, which had been reserved for orders, was reopened and listed for the next hearing on 19.06.2026.
Topics: NCLT Proceedings, Insolvency Matter, Procedural Order