Authority: National Company Law Tribunal (NCLT), Ahmedabad Bench - Court 2
Order Date: 06 July 2026
Case Overview
This is an order in an interlocutory application (IA/1901(AHM)2024) filed within the main insolvency proceeding (C.P.(IB)/99(AHM)2021). The proceedings are under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The applicant is the State Bank of India (SBI), and the respondent is Mr. Jayantilal Babulal Sanghvi, who is the personal guarantor in the matter. The counsel for the applicant, Mr. Atul Sharma, appeared and submitted that an appeal concerning this matter is currently pending before the National Company Law Appellate Tribunal (NCLAT). On these grounds, he sought an adjournment of the proceedings at the NCLT.
Final Outcome
The bench, comprising Judicial Member Mrs. Chitra Hankare and Technical Member Dr. Velamur G Venkata Chalapathy, granted the request for an adjournment. The applicant's counsel was directed to file the status of the pending NCLAT appeal before the next date of hearing. The matter has been listed for further consideration on 11 August 2026.
Topics: Insolvency Proceeding, NCLT Adjournment, Personal Guarantor