S.No.9 IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH – II VC AND PHYSICAL (HYBRID) MODE ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON

20.04.2026 AT 10:30 A.M.

Company Petition (IB) No. 115/95/HDB/2024 U/s 95 of IBC IN THE MATTER OF:

Canara Bank …Petitioner AND Mr. A.D. Murali (in the matter of A.L. Sudarshan Constructions Company Ltd) …Respondent C O R A M:-

SHRI. RAJEEV BHARDWAJ, HON’BLE MEMBER (JUDICIAL)

SHRI. SANJAY PURI, HON’BLE MEMBER (TECHNICAL)

O R D E R

Orders pronounced recorded vide separate sheets. In the result, this Petition stands dismissed.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Apoorva IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH - II (Under Section 95 read with Section 60(2) of the Insolvency and Bankruptcy C ode, 2 016, read with Insolvency and Bankruptcy (Application to Adjudicating Authority f or I nsolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019.

Canara Bank Asset Recovery Management Branch, #10-3-163 & 10 - 3 - 163 / A Plot No.85, Ground Floor, Circle Office Building Beside Rail Nilayam, S.D. Road, Secunderabad -500026 Rep. by its Assistant General Manager .....Petitioner/Financial Creditor Versus

1. A.D.Murali R/o. H.No. 7-3-719, R.P. Road, Secunderabad-500003, Telangana.

...Respondent/Personal Guarantor

2. M/s. A.L.Sudershan Constructions Company Limited Represented by its Managing Director Reg. off at H.No.7-3-720, 3rd Floor, R.P.Road, Secunderabad - 500 003.

Telangana State Also at

7-3-719, R.P. Road, Secunderabad-500003, Telangana ...Corporate Debtor Date of Order: 20.04.2026 CORAM :

Shri Rajeev Bhardwaj, Hon’ble Member (Judicial)

Shri Sanjay Puri, Hon’ble Member (Technical)

Counsel/Parties present :

For the Petitioner : Mr. Dishit Bhattachajee, Ld Counsel For the Respondent : Mr. Avinash Desai, Ld Senior Counsel along with Mr. G. Bhupesh, Ld Counsel This petition is filed by the Canara Bank (“ F inancial Creditor/FC ” ) under Section 95 of Insolvency and Bankruptcy Code 2016 (“ I BC ” ) read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) R ules, 2019, seeking an order for initiation of the Personal Insolvency Resolution Process (PIRP) against Mr. A.D.Murali , who is the Personal Guarantor (PG/Respondent) of M/s A.L.Sudershan Constructions Company Limited , Corporate Debtor (CD).

APPLICATION

1. It is submitted that the Corporate Debtor is engaged in the business of building construction and civil engineering activities. The Corporate Debtor had availed various financial facilities from the Financial Creditor, including working capital facilities in the nature of term loans, o verdraft facilities, and SBLC/BG facilities under different loan agreements.

2. In order to secure the repayment of the said financial assistance, several Guarantors, including Mr. A.D.Murali, executed Guarantee Agreements ¹ dated 28.07.2005 in favour of the Financial Creditor, thereby undertaking to repay the dues in t he event of default by the Corporate Debtor.

3. It is contented that the Corporate Debtor committed default in repayment of the outstanding dues and the account was classified as Non-Performing Asset (“ N PA ”) on 11.06.2006. The Corporate Debtor has repeatedly acknowledged the outstanding liability by way of acknowledgments of debt ² executed on 30.09.2007, 30.06.2008, 01.06.2011, 20.05.2014, and 11.05.2017, as well as through multiple One-Time Settlement (“ O TS ”).

1 Page 65 of the Application

2 Page 70 of the Application

4. Later, the Financial Creditor issued a Legal notice ³ dated 10.06.2019 to the C orporate Debtor, calling upon it to repay the entire outstanding amount. Despite the issuance of such recall notices, neither the Corporate Debtor nor the guarantors, including the Personal Guarantor herein, have repaid the outstanding dues.

5. It is submitted that, in view of continued default, the Financial Creditor and its associate banks initiated recovery proceedings