Authority: National Company Law Tribunal, New Delhi Special Principal Bench
Order Date: 10 July 2026
Case Overview
This matter involves an insolvency petition filed by Canara Bank Ltd. against Mr. Subhash Dabas under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition was registered as Item No. 402 (IB)- 85(ND)/2026. The tribunal had initially issued a notice on 30 March 2026, returnable by 28 April 2026, and granted the respondent two weeks to file a reply or objection. When the matter was taken up on 29 June 2026, neither counsel for the respondent appeared nor was a reply found on record. After hearing the petitioner's counsel, the bench, comprising Justice Anupinder Singh Grewal (President) and Ms. Reena Sinha Puri (Member Technical), reserved its judgment.
Final Outcome
On 10 July 2026, the bench de-reserved the matter. It was not taken up for judgment but was instead listed for clarification, though no one appeared for either party. The tribunal has now adjourned the matter and listed it for a hearing on 22 July 2026 before a regular bench. The respondent, Mr. Subhash Dabas, has been granted a final opportunity of one week to file a reply or objection to the petition.
Topics: Insolvency Petition, NCLT Proceeding, Banking