Authority: National Company Law Tribunal, Jaipur Bench
Order Date: July 13, 2026
Case Overview
The National Company Law Tribunal (NCLT) Jaipur Bench, comprising Judicial Member Ms. Reeta Kohli and Technical Member Ms. Kavita Bhatnagar, heard multiple interlocutory applications in connection with CP No. (IB)-7/7/JPR/2024. This is an insolvency petition filed by Union Bank of India (formerly Andhra Bank) under Section 7 of the Insolvency and Bankruptcy Code, 2016 against SNG Realestate Pvt. Ltd. as the corporate debtor. The matter involves a financial creditor (Union Bank) seeking initiation of corporate insolvency resolution process against the real estate company.
Final Outcome
The tribunal adjourned all pending applications to future dates. Specifically, IA No. 516/JPR/2025 was posted to July 29, 2026 for tendering written submissions as both counsels had concluded arguments. IA No. 219/JPR/2026 was adjourned to July 20, 2026 based on counsel's request. IA No. 481/JPR/2024 will be taken up along with IA 516/JPR/2025 on July 29, 2026. The case remains pending with no substantive decision on the insolvency application at this stage.
Topics: Insolvency Proceedings, Real Estate Sector, Banking Litigation