Authority: National Company Law Tribunal, Hyderabad Bench – II
Order Date: June 16, 2026
Case Overview
This is an order from a hearing in an insolvency petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition, registered as CP (IB) No.140/9/HDB/2024, was filed by Pawan Putra Buildcon Pvt Ltd (Operational Creditor/Petitioner) against P. Venkata Ramanaiah Engineers and Constructions Pvt Ltd (Corporate Debtor/Respondent). The bench was composed of Hon'ble Member (Judicial) Shri. Rajeev Bhardwaj and Hon'ble Member (Technical) Shri. Sanjay Puri. Counsel for both parties were present. The key issue was the respondent's repeated failure to file its counter to the petition, despite being given sufficient time and even having costs imposed on it for this default on May 6, 2025.
Final Outcome
The Tribunal ruled that the respondent had forfeited its opportunity to file a counter. The pleadings in the case were declared complete. The matter was adjourned for a hearing on the merits of the petition, which is now scheduled for July 14, 2026.
Topics: Insolvency, Legal Proceedings