NCLT Adjourns Bank of Maharashtra Insolvency Proceeding

Authority: National Company Law Tribunal, Indore Bench, Court No. 1

Order Date: 08/06/2026

Case Overview

The matter involves an insolvency proceeding under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was filed by Bank of Maharashtra through its Resolution Professional, Mr. Mangesh Vitthal Kekre, against Mr. Ramesh Lilwani as the Respondent. The Respondent had previously been proceeded against ex parte. During the hearing, the Respondent's Proxy Counsel submitted that an application had been filed to set aside the ex parte order and requested an adjournment. The Applicant, represented by Proxy Counsel, opposed this adjournment request. Canara Bank was also represented in the proceedings by proxy counsel.

Final Outcome

The NCLT Bench, comprising Member (Technical) Man Mohan Gupta and Member (Judicial) Brajendra Mani Tripathi, considered the Respondent's request and adjourned the matter. The case has been listed for the next hearing on July 1, 2026. The proceeding remains pending without a final determination on the merits of the insolvency application or the application to set aside the ex parte order.

Topics: Insolvency Proceeding, Banking, NCLT