SBI's VMC Systems Insolvency Application Withdrawn

Authority: National Company Law Tribunal, Hyderabad Bench – 1

Order Date: 16-06-2026

Case Overview

The National Company Law Tribunal (NCLT) Hyderabad Bench heard matter CP (IB) No. 25/121/HDB/2023 along with interlocutory application IA (IBC) 532/2026. The petition was filed by State Bank of India (Petitioner) against Mr. Vuppalapati Venkata Rama Rao, representing M/s. VMC Systems Ltd (Respondent), under Section 121 of the Insolvency and Bankruptcy Code, 2016. The hearing was conducted in a hybrid (VC and physical) mode before a bench comprising Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri. During the hearing, the Bankruptcy Trustee, Mr. D. SRK Sai Baba, representing the application, stated his intention to withdraw IA (IBC) 532/2026.

Final Outcome

The NCLT bench allowed the withdrawal request and dismissed IA (IBC) 532/2026 as withdrawn. The order was signed by both members of the bench. This procedural order concludes this specific application within the broader insolvency proceeding.

Topics: Insolvency Proceeding, Banking Dispute, NCLT Order