The liquidator of IVRCL Ltd, the Hyderabad-based infrastructure company that collapsed under heavy debt, has asked the National Company Law Tribunal (NCLT) to act against Balaram Reddy Eragam and several others. The application alleges fraudulent and preferential transactions that caused actual loss to the company and its creditors.
Liquidator Purusottam Behera filed Interlocutory Application No. 1158 of 2026 before the NCLT’s Hyderabad Bench. It falls under IVRCL’s main insolvency case, CP(IB) No. 294/7/HDB/2017, and invokes Section 66 read with Section 60(5) of the Insolvency and Bankruptcy Code (IBC). Section 66 allows the tribunal to make those responsible for fraudulent or wrongful trading contribute to the…