Authority: National Company Law Tribunal (NCLT), Division Bench, Court - 1, Ahmedabad
Order Date: 29 June 2026
Case Overview
This document is an order from a hearing in an ongoing corporate insolvency resolution process (CIRP). The proceedings were initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the financial creditor, State Bank of India, against the corporate debtor, Raninga Paper Mills Pvt. Ltd. The specific application being heard was IA(Plan)/9(AHM)/2026 within the main petition CP(IB)/271(AHM)/2025. The hearing was conducted in hybrid mode with a full complement of legal representatives present for the various parties involved, including the applicant (State Bank of India), the resolution professional (Mr. Jigar Bhatt), an unsuccessful resolution applicant, a successful resolution applicant, and a guarantor of the corporate debtor.
Final Outcome
The bench, comprising Member (Judicial) Mr. Shammi Khan and Member (Technical) Mr. Sanjeev Sharma, adjourned the matter. The adjournment was granted at the request of the learned counsels for the parties. The matter was re-listed for further consideration on 3 July 2026. No substantive decisions on the resolution plan or other matters were recorded in this order.
Topics: Insolvency Proceeding, NCLT Hearing, Adjournment