Authority: National Company Law Tribunal, Hyderabad Bench - II
Order Date: 11 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench-II heard Company Petition IB/22/95/HDB/2026 filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition was filed by UCO Bank as Petitioner against Shri Chalasani Ajad Kumar as Respondent. The hearing was conducted in hybrid mode (virtual and physical attendance) on 11 June 2026 at 10:30 AM before a bench comprising Shri Rajeev Bhardwaj, Hon'ble Member (Judicial) and Shri Sanjay Puri, Hon'ble Member (Technical).
During the hearing, no counsel appeared for the Petitioner (UCO Bank). Mr. Ramesh Babu, Learned Counsel represented the Respondent/Personal Guarantor. Ms. Vismaya, Learned Counsel represented the Resolution Professional. The tribunal noted that a counter had been filed in the matter.
Final Outcome
The NCLT granted two weeks for filing objections to the Resolution Professional's report and any rejoinder. The matter was adjourned to 10 September 2026 for further proceedings. The order was signed by both members of the bench.
Topics: Insolvency Proceeding, Banking Sector, NCLT Hearing