Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: 14 July 2026
Case Overview
The National Company Law Tribunal (NCLT) Indore Bench heard proceedings under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) in the matter of Canara Bank (Applicant) versus Sarvesh Garg (Respondent). The case reference is CP(IB)/7(MP)2026. The bench comprised Hon'ble Shri Brajendra Mani Tripathi (Member - Judicial) and Hon'ble Shri Man Mohan Gupta (Member - Technical).
During the proceedings, the applicant was represented by Ms. Rifat Touhid, a proxy advocate appearing online on behalf of Mr. Hitesh Sachar, Advocate. The respondent had no representation present. The proxy counsel for Canara Bank requested a short accommodation on the grounds that the arguing counsel was engaged before another bench.
Final Outcome
The bench allowed the request for accommodation and adjourned the matter. The case has been listed for the next hearing on 17 August 2026.
Topics: Insolvency Proceeding, Banking Litigation