Authority: National Company Law Tribunal, Ahmedabad Bench (Court-2)
Order Date: June 9, 2026
Case Overview
The National Company Law Tribunal (NCLT), Ahmedabad Bench, comprising Member (Judicial) Mrs. Chitra Hankare and Member (Technical) Dr. Velamur G Venkata Chalapathy, heard proceedings under Section 121(1) of the Insolvency and Bankruptcy Code, 2016. The case involves State Bank of India (Stress Asset Management Branch) as the applicant versus Jayantilal Babulal Sanghvi (Personal Guarantor to Corporate Debtor) and M/s. Sanghvi Forging & Engineering Limited as respondents. The matter was represented by Mr. Mokshay Vyas, Advocate for the applicant. This appears to be an initial hearing in the insolvency proceeding against the corporate debtor.
Final Outcome
The Tribunal noted that notices were yet to be issued in both applications (C.P.(IB)/70(AHM)2026 and IA/361(AHM)2026). The bench directed the applicant's counsel to issue notices to all respondents along with copies of the petition and file proof of service by affidavit within 7 days. The matter has been listed for further consideration on June 29, 2026.
Topics: Insolvency Proceeding, Banking Stress