Authority: National Company Law Tribunal, Bengaluru Bench
Order Date: October 9, 2026
Case Overview
This order pertains to an interlocutory application (IA No. IBC 1048/2026) in the main insolvency petition (CP(IB) No. 177/BB/2026). The petition was filed under Section 94(1) of the Insolvency and Bankruptcy Code, 2016 by Mrs. Manjula Bonageri (Petitioner/Personal Guarantor) against State Bank of India (Respondent/Financial Creditor). The bench, comprising Judicial Member Shri. Sunil Kumar Aggarwal and Technical Member Shri. Radhakrishna Sreepada, was hearing a report filed by the Resolution Professional (RP).
The tribunal's order is procedural, directing that notice of the RP's report be sent to the respondent financial creditor (State Bank of India). The respondent is enjoined to file its response to this report within two weeks of receipt. Copies of the response must be provided to the Resolution Professional and the Petitioner (Personal Guarantor). Subsequently, the petitioner is granted the right to file a rejoinder to the respondent's response by the next date of hearing.
Final Outcome
The matter, including both the interlocutory application and the main petition, has been adjourned and listed for the next hearing on November 2, 2026. No substantive decision on the merits of the insolvency petition was made in this order.
Topics: Insolvency Proceeding, Banking, NCLT