NCLT Adjourns Prudent ARC Insolvency Proceeding

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

Order Date: 22 June 2026

Case Overview

This is a proceeding under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The case, registered as CP(IB)/48(MP)2022, is between the applicant, Prudent ARC Ltd (acting for State Bank of India), and the respondent, Mr. Jainarayan Karwa. The matter was listed for hearing on 22nd June 2026.

Final Outcome

The Tribunal noted that a leave note had been received from the applicant's side, indicating their counsel's absence. Consequently, the bench, comprising Member (Judicial) Shri Brajendra Mani Tripathi and Member (Technical) Shri Man Mohan Gupta, adjourned the hearing. Only the respondent's advocate, Mr. Kunal P. Vaishnav, was present online. The matter has been relisted for the next hearing on 24th July 2026.

Topics: Insolvency Proceeding, NCLT, Adjournment