Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 13/07/2026
Case Overview
This proceeding arises from the liquidation process of corporate debtor Anil Tradecom Ltd under the Insolvency and Bankruptcy Code, 2016. The matter concerns the closure of the company's bank accounts as part of the liquidation process. The Tribunal had previously issued notices to both Bank of India and Union Bank of India regarding the status of account closures. Both banks appeared through their respective officers and legal representatives. Union Bank of India confirmed it had issued a closure certificate for the current account on 07/07/2026. Bank of India stated that closure of its account was imminent, pending final approval from its zonal office, and would be completed within 4-5 days.
Final Outcome
The Tribunal adjourned the matter for further consideration on 28/07/2026, pending the complete closure of all bank accounts of the corporate debtor. The matter remains ongoing until both banks formally complete the account closure process.
Topics: Insolvency Proceedings, Bank Account Closure, NCLT Hearing