Authority: National Company Law Tribunal, New Delhi Court-VI
Order Date: 29 June 2026
Case Overview
The National Company Law Tribunal (NCLT), New Delhi Bench VI, heard an insolvency petition filed by State Bank of India (Petitioner) against Shri Nawal Kishore Saxena (Respondent). The proceedings were initiated under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, which deals with application by financial creditor for initiation of insolvency resolution process against personal guarantor to corporate debtor. The case was listed under multiple application numbers: IB-745(PB)/2021, IA/1817/2025, IA/2085/2025, and IA/3243/2025. The bench comprised Hon'ble Justice Jyotsna Sharma (Member Judicial) and Ms. Anu Jagmohan Singh (Member Technical). The hearing was conducted in hybrid mode (physical and video conference).
Final Outcome
The Tribunal did not make any substantive ruling on the merits of the case during this hearing. Instead, the matter was re-notified and adjourned to 07 August 2026 for further proceedings. No penalties, settlements, or other directions were issued in this order.
Topics: Insolvency Proceeding, Banking Litigation, NCLT Adjournment