Authority: National Company Law Tribunal, Ahmedabad Bench (Court 2)
Order Date: June 9, 2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad bench heard matters IA/870(AHM)2026 and IA/871(AHM)2026 in the main petition CP(IB)/404(AHM)2025. The proceedings were initiated under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, with State Bank of India as the financial creditor (applicant) and M/s. Varidhi Cotspin Pvt Ltd as the corporate debtor (respondent).
During the hearing on June 9, 2026, learned counsel for the applicant (State Bank of India) was absent. There was no representation for the respondent either. Due to the absence of both parties, the bench decided to adjourn the matter.
Final Outcome
The NCLT bench rescheduled the hearing for June 10, 2026. The order was signed by both members of the bench: Dr. Velamur G Venkata Chalapathy (Technical Member) and Chitra Hankare (Judicial Member).
Topics: Insolvency Proceeding, Banking Sector, NCLT