Authority: National Company Law Tribunal, Jaipur Bench
Order Date: July 07, 2026
Case Overview
The National Company Law Tribunal (NCLT) Jaipur Bench, presided over by Judicial Member Reeta Kohli, heard three interlocutory applications (IAs) related to CP No. (IB)-275/9/JPR/2019. This main company petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by operational creditor M/s Sangam (India) Ltd. against corporate debtor M/s Suzuki Textiles Ltd.
The hearings addressed three specific applications:
- IA No. 281/JPR/2024: Involved Punjab National Bank (PNB) as respondent number 6
- IA No. 553/JPR/2023
- IA No. 554/JPR/2023
Representation at the hearing included:
- For the Applicant/Operational Creditor: Advocate Akshita Koolwal
- For the Respondents: None appeared for IA 553 and 554; Advocate Mehak Jain appeared for IA-281; Advocate Naresh Batra appeared for Respondent-3 in IA 281
- For Punjab National Bank: Advocate Shashank Jain appearing for Vikas Jain
Final Outcome
The tribunal adjourned all three applications to July 22, 2026. For IA No. 281/JPR/2024, Punjab National Bank was granted "one last opportunity" to file the requisite affidavit, with the court explicitly stating that "no further adjournment shall be granted." For IA No. 553/JPR/2023 and IA No. 554/JPR/2023, where no respondents appeared, the matters were adjourned "in the interest of justice" to the same date for arguments.
Topics: Corporate Insolvency, Legal Proceedings, Banking