Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: June 12, 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench heard an insolvency petition filed by Punjab National Bank under Section 95 of the Insolvency and Bankruptcy Code, 2016. The petition is against Mr. Yashdeep Sharma, who is a personal guarantor in the matter of M/s. Saptarishi Hotels Pvt., Ltd. The bench comprised Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri. Representatives included Mr. Peri Rama Krishna (counsel for the creditor bank), Mr. Surya Prakash (counsel for the personal guarantor), and Mr. K. Vatsa Kumar (Resolution Professional).
Final Outcome
The tribunal adjourned the matter to August 3, 2026. It granted three weeks for the filing of counter and objections to the Resolution Professional's report. Subsequently, two weeks were allowed for filing any rejoinder. The order represents a procedural step in the ongoing insolvency proceedings against the personal guarantor.
Topics: Insolvency Proceedings, Banking Sector, NCLT