Authority: National Company Law Tribunal, Ahmedabad Bench (Court 2)
Order Date: 10/06/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad Bench heard proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) in the matter of State Bank of India versus M/s. Varidhi Cotspin Pvt Ltd. The case is registered as C.P.(IB)/404(AHM)2025 with two interlocutory applications numbered IA/870(AHM)2026 and IA/871(AHM)2026. The bench comprised Mrs. Chitra Hankare (Member Judicial) and Dr. Velamur G Venkata Chalapathy (Member Technical). Representing the applicant State Bank of India was Mr. Sunil Bhavsar, Advocate, while the respondent Varidhi Cotspin Pvt Ltd was represented by Ms. Nitu Chaturvedi, Advocate and Mr. Aditya Raval, Advocate.
After hearing arguments from both sides, the tribunal completed the arguments phase and directed both parties to file their written submissions. These submissions must be in affidavit form and limited to 2-3 pages each, with a deadline of the next morning at 10:30 AM.
Final Outcome
The tribunal reserved its final order in the matter, meaning a decision will be delivered at a later date after consideration of the written submissions and arguments presented.
Topics: Corporate Insolvency, Banking Litigation, NCLT Proceedings