Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 08.09.2026
Case Overview
The appeal, Comp. App. (AT) (Ins) No. 1679 of 2026, was filed by Hirenkumar Sureshbhai Patel (Appellant) against State Bank of India & Ors. (Respondents). The Appellant's counsel, Mr. Keith Varghese, submitted that this Appellate Tribunal had previously disposed of a similar appeal, Comp. App. (AT) (Ins) No. 1301 of 2026 (Panshul Agro Food LLP v. State Bank of India & Ors.), by sustaining the dismissal of the application under Section 10 of the Insolvency and Bankruptcy Code while reducing the penalty imposed by the Learned Adjudicating Authority from Rs. 10 lakh to Rs. 5 lakh. Counsel argued that the instant appeal was analogous and should be dismissed in the same manner. No objection was raised by the Learned Counsel for Respondent No. 1, State Bank of India, represented by Mr. Siddharth Sangal, Ms. Richa Mishra, Ms. Mrinalini Tandon, and Ms. Kashish Tewatia.
Final Outcome
The Appellate Tribunal, comprising Justice Mohammad Faiz Alam Khan (Member Judicial) and Naresh Salecha (Member Technical), dismissed the appeal based on the Appellant's request and the lack of objection from the Respondents, thereby upholding the impugned order related to the Section 10 application dismissal.
Topics: Insolvency Appeal, Legal Precedent