Authority: National Company Law Tribunal Indore Bench Court No. 1
Order Date: June 22, 2026
Case Overview
The National Company Law Tribunal (NCLT) Indore Bench Court No. 1 was hearing a proceeding under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The case reference is CP(IB)/51(MP)2022. The applicant is Prudent ARC Ltd (acting on behalf of State Bank of India) and the respondent is Mr. Sushil Jainarayan Karwa. The bench comprised Hon'ble Shri Brajendra Mani Tripathi (Member Judicial) and Hon'ble Shri Man Mohan Gupta (Member Technical). During the hearing, the applicant was not present, and the court officer informed the bench that a leave note had been received from the applicant's side.
Final Outcome
The NCLT bench adjourned the matter due to the absence of the applicant. The case has been rescheduled for the next hearing on July 24, 2026. No substantive proceedings or decisions on the merits of the case occurred during this hearing.
Topics: NCLT Proceeding, IBC Section 95, Case Adjournment