Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 16/06/2026
Case Overview
The matter involves proceedings under Section 94 of the Insolvency and Bankruptcy Code (IBC) between applicant Rashmina Hirenkumar Patel (Personal Guarantor) and respondents State Bank of India & Others (Financial Creditors). The case is listed as C.P.(IB)/358(AHM)2025 along with IA/36(AHM)2026. Pleadings in the case are complete, and the matter was scheduled for hearing. Multiple legal representatives were present: Mr. Atul Sharma for the Applicant/RP, Mr. Sumit Parikh for Respondent-7 (L&T Finance), Mr. Sudhir M. Mehta for Respondents 14-17, and Mr. Mohit Gupta and Mr. Saurabh Rachchh for other parties.
On the previous hearing date, the counsel for the Personal Guarantor had requested an adjournment, which was granted. On June 16, 2026, the counsel for the Personal Guarantor again sought an adjournment and requested one more opportunity to prepare.
Final Outcome
The NCLT bench comprising Member (Judicial) Shammi Khan and Member (Technical) Sanjeev Sharma allowed the adjournment request. The matter has been re-listed for arguments on July 7, 2026.
Topics: Insolvency Proceedings, Personal Guarantor, Banking