Authority: National Company Law Tribunal, Allahabad Bench, Prayagraj
Order Date: 10th June, 2026
Case Overview
The order pertains to CP (IB) No.41/ALD/2026, an insolvency petition filed by State Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against SVP Industries Limited, the Corporate Debtor. The hearing was held before a division bench comprising Hon'ble Member (Judicial) Sh. Praveen Gupta and Hon'ble Member (Technical) Sh. Ashish Verma. Sh. Suraj Prakash, Advocate, appeared on behalf of the Corporate Debtor.
Final Outcome
The Tribunal granted an adjournment based on a request from the Corporate Debtor's counsel for additional time to file a reply to the petition. The Corporate Debtor was directed to file its reply within two weeks, with an advance copy to be supplied to the petitioner (State Bank of India). The matter was adjourned for further hearing on 30th June, 2026.
Topics: Insolvency Proceeding, NCLT Hearing, Corporate Debtor