Srinivas Rao Gudla vs Akkineni Satish - 2026 Supreme(Online)(NCLT) 389

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2026 Supreme(Online)(NCLT) 389

NATIONAL COMPANY LAW TRIBUNAL
Umesh Kumar Shukla, Technical Member, Kishore Vemulapalli, Judicial Member
Srinivas Rao Gudla – Appellant
Versus
Akkineni Satish – Respondent

Advocates:
For the Appellants/Petitioners: Shaik Gouse, Srinivasa Rao Gudla
For the Respondents: Sarvani Desiraju, Shreya Singhal

Table of Content
1. fraudulent diversions to r-6 llp totaling rs.5.48 crores. (Para 2)
2. respondents deny preferential/fraudulent transactions. (Para 5 , 6 , 7)
3. r-7 denies liability as third-party under cirp. (Para 8)
4. framework for section 43 preferential transactions. (Para 16 , 17 , 18 , 19)
5. rs.15 lakhs to r-4's father is preferential. (Para 22)
6. rs.51 lakhs to r-5 is preferential; repayment ordered. (Para 23 , 24)
7. rs.15 lakhs to r-6 llp not preferential. (Para 25)
8. section 66 requires intent to defraud creditors. (Para 27 , 28)
9. diversion to r-6 llp fraudulent under section 66. (Para 30 , 31 , 32)
10. contributions ordered from r-1, r-2, r-5, r-6. (Para 33 , 34 , 35 , 36 , 37)

HON’BLE SHRI UMESH KUMAR SHUKLA, MEMBER (TECHNICAL)

PRESENT:

For the Applicant : Mr. Shaik Gouse, PCS along with Mr. Srinivas Rao Gudla (Liquidator in person)

For Respondent No. 7 : Ms. Sarvani Desiraju and Ms. Shreya Singhal, Advocates [ORDER]

[PER: BENCH]

This Interlocutory Application bearing no. IA(IBC)/124/2025 (hereinafter referred to as the “IA 124/2025”) has been filed, vide Diary No.759 dated 25.04.2025, by Mr. Srinivas Rao Gudla, the Liquidator of AGRS Projects LLP (hereinafter referred to as