NCLT Adjourns SBI Insolvency Proceedings Against Balkrishna Panchal
Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: June 10, 2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard interim application IA/540(AHM)2026 in the main company petition C.P.(IB)/178(AHM)2025. The proceedings were initiated under Section 121 of the Insolvency and Bankruptcy Code, 2016, with State Bank of India as the applicant and Shri Balkrishna J Panchal as the respondent. The matter was heard by a Division Bench consisting of Hon'ble Member (Judicial) Mr. Shammi Khan and Hon'ble Member (Technical) Mr. Sanjeev Sharma. Both parties were represented by advocates - Mr. Sahil Jayesh Rao for the applicant and Mr. Pratik Thakkar for the respondent.
Final Outcome
The NCLT noted that neither side had filed written submissions. Both parties requested additional time to file their written submissions, which the Tribunal allowed. The Bench directed that written submissions be filed within one week from the order date. The matter has been relisted for further consideration on July 21, 2026. No substantive order was passed in this hearing beyond the adjournment and direction for filing submissions.
Topics: Insolvency Proceedings, Banking Litigation, NCLT Adjournment