Authority: National Company Law Tribunal, New Delhi Court-IV (Special Bench)
Order Date: 15 July 2026
Case Overview
This matter concerns the corporate insolvency resolution process of Shree Ambica International Food Company Pvt Ltd, initiated under Section 7 of the Insolvency & Bankruptcy Code, 2016 by the Financial Creditor, State Bank of India. A resolution plan for the corporate debtor was previously approved by the NCLT vide its order dated 30.10.2023. The current hearing dealt with multiple Interlocutory Applications (IAs) listed as IA/6212/ND/2023, IA/6217/ND/2023, IA/6150/ND/2023, IA/5812/ND/2023, IA/5318/ND/2023, IA/1091/ND/2023, and IA/3737/ND/2021. According to the approved resolution plan, applications concerning Preferential, Undervalued, Fraudulent, or Extortionate (PUFE) transactions are to be considered by State Bank of India.
Final Outcome
The Tribunal, comprising Member (Judicial) Shri Mahendra Khandelwal and Member (Technical) Shri Yogendra Kumar Singh, adjourned the matter. The counsel for State Bank of India sought time to file a chart clarifying which of the pending IAs they intend to pursue and which should be disposed of, in accordance with the approved resolution plan. The matter was listed for the next hearing on 12 August 2026 before the Regular Bench.
Topics: Corporate Insolvency, Resolution Plan, NCLT Proceedings