Authority: National Company Law Tribunal, Ahmedabad Bench (Court-2)
Order Date: June 9, 2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad Bench heard initial proceedings in matter CP(IB)/68(AHM)2026 and IA/360(AHM)2026 filed under Section 121(1) of the Insolvency and Bankruptcy Code, 2016. The application was filed by State Bank of India Stress Asset Management Branch against Vikarm Babulal Sanghvi, representing Sanghvi Forging & Engineering Limited. The bench comprised Hon'ble Member (Judicial) Mrs. Chitra Hankare and Hon'ble Member (Technical) Dr. Velamur G Venkata Chalapathy. Mr. Mokshay Vyas appeared as counsel for the applicant bank.
Final Outcome
The tribunal directed the applicant (State Bank of India) to issue notices to all respondents with copies of the petition. Proof of service must be filed by affidavit within 7 days. The matter has been listed for further consideration on June 29, 2026.
Topics: Insolvency Proceedings, Banking Stress Assets, NCLT Case