NCLT Adjourns SBI vs Mukul Kakar Insolvency Case

Authority: National Company Law Tribunal, Indore Bench, Court No. 1

Order Date: 08/06/2026

Case Overview

The National Company Law Tribunal (NCLT) Indore Bench heard proceedings under Section 95 of the Insolvency and Bankruptcy Code (IBC) in case number C.P.(IB)/42(MP)2021. The case involves State Bank of India as the applicant versus Mukul Kakar as the respondent. The bench comprised Hon'ble Shri Brajendra Mani Tripathi (Member Judicial) and Hon'ble Shri Man Mohan Gupta (Member Technical).

During the hearing, the proxy counsel for the respondent requested a final adjournment on the grounds that the arguing counsel was unavailable. The applicant's counsel opposed this request, noting that written submissions had already been filed by both parties.

Final Outcome

The tribunal granted a final opportunity to the respondent and adjourned the matter. The case was listed for further consideration on 01.07.2026. The order explicitly states that if the arguing counsel remains unavailable on the next hearing date, the matter shall proceed in accordance with law without granting any further adjournment.

Topics: Insolvency Proceeding, Banking Litigation