Authority: National Company Law Tribunal, Hyderabad Bench – II
Order Date: 16 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench-II heard an interlocutory application IA (IBC)/534/2026 in the main petition CP (IB)No.110/95/HDB/2022. The petition was filed by Union Bank of India Ltd under Section 95 of the Insolvency and Bankruptcy Code, 2016 against respondent Gokaraju Srinivasa Chakravarthi Raju. The bench comprised Hon'ble Member (Judicial) Shri Rajeev Bhardwaj and Hon'ble Member (Technical) Shri Sanjay Puri. During the hearing held in hybrid mode (VC and Physical) at 10:30 AM, Mrs. Mummaneni Vazra Laxmi appeared as learned counsel along with Mr. PVB Sudhakar Rao, the Resolution Professional. No representative appeared for the Income Tax Department.
Final Outcome
The Tribunal adjourned the matter to 11 August 2026 to allow for the filing of counter submissions. The order was signed by both members of the bench.
Topics: Insolvency Proceeding, Banking Litigation, NCLT Adjournment