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 between State Bank of India (Applicant/Financial Creditor) and Mrs. Neetima Kad (Respondent/Personal Guarantor). The case reference is C.P.(IB)/182(AHM)2026. The learned counsel for the Personal Guarantor submitted that the order previously passed by this Tribunal has been challenged through an appeal before the National Company Law Appellate Tribunal (NCLAT) in Company Appeal (AT)(Ins.) No. 704 of 2026.
Final Outcome
The Tribunal adjourned the matter in view of the pending appeal before NCLAT. The NCLAT appeal is scheduled for hearing on 09 July 2026. The matter has been listed for further consideration before NCLT Ahmedabad on 21 July 2026. The bench comprised Hon'ble Member (Judicial) Mr. Shammi Khan and Hon'ble Member (Technical) Mr. Sanjeev Sharma.
Topics: Insolvency Proceedings, Personal Guarantor, Bank Recovery