Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 10/06/2026
Case Overview
The matter involves proceedings under Section 121(1) of the Insolvency and Bankruptcy Code, 2016. State Bank of India is the applicant financial creditor seeking recovery from Mrs. Bhumika Nilay Shah, the respondent who is a personal guarantor. The learned counsel representing the personal guarantor informed the tribunal that the order previously passed by this NCLT bench has been challenged through an appeal filed before the National Company Law Appellate Tribunal (NCLAT). This appeal is registered as Company Appeal (AT)(Ins.) No. 702 of 2026 and is scheduled for hearing on 9th July 2026.
Final Outcome
The NCLT bench, comprising Mr. Shammy Khan (Hon'ble Member Judicial) and Mr. Sanjeev Sharma (Hon'ble Member Technical), adjourned the matter in view of the pending appeal at NCLAT. The case has been listed for further consideration on 21st July 2026.
Topics: Insolvency Proceeding, Personal Guarantor, Banking Recovery