NCLT Adjourns SVC Bank Insolvency Petition to July 24

Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad

Order Date: 10/07/2026

Case Overview

The National Company Law Tribunal (NCLT) in Ahmedabad heard a company petition filed by SVC Co-Operative Bank Ltd (formerly known as Shamrao Vithal Cooperative Bank Ltd) under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition was filed against MaheshKumar Udesinhbhai Parmar, the Personal Guarantor (PG) of M/s Sahar Industries LLP, initiating a corporate insolvency resolution process. An Interim Application (IA) filed by the Resolution Professional (RP) under Section 99 of the IB Code 2016 was also part of the proceedings.

Final Outcome

The NCLT bench, comprising Member (Judicial) Mr. Shammi Khan and Member (Technical) Mr. Sanjeev Sharma, adjourned the hearing. The main company petition and the IA were listed for the next hearing on July 24, 2026. The order provides no further substantive rulings or directions at this stage.

Topics: Insolvency Proceeding, Banking, NCLT