VMC Systems Ltd Insolvency Application Withdrawn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 an Interlocutory Application, IA (IBC) 530/2026, filed under Section 121 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was part of the main corporate insolvency proceeding, CP (IB) No. 13/121/HDB/2023. The petitioner in the main proceeding was the State Bank of India, and the respondent was Shri. Bhagavatula Venkata Ramana, representing M/s. VMC Systems Ltd. The bench was composed of Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri. During the hearing, the Bankruptcy Trustee for the matter, Mr. D.SRK Sai Baba, was present and stated his intention to withdraw the application.

Final Outcome

The NCLT permitted the withdrawal and dismissed IA (IBC) 530/2026 as withdrawn. The order was signed by both members of the bench. The main insolvency proceeding, CP (IB) No. 13/121/HDB/2023, remains, but this specific application has been concluded.

Topics: Insolvency Proceeding, NCLT Order