Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 17 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard an Interim Application (IA) numbered IA/935(AHM)2026, which is filed in connection with a main Company Petition numbered C.P.(IB)/197(AHM)2026. The proceedings are under Section 121 of the Insolvency and Bankruptcy Code (IBC). The applicant is the State Bank of India, and the respondent is an individual, Bharat Bhushan Jain. The matter was presented before a bench comprising Mr. Shammi Khan, Hon'ble Member (Judicial), and Mr. Sanjeev Sharma, Hon'ble Member (Technical). Advocates Ms. Nitu Chaturvedi and Mr. Aditya Raval represented the applicant.
Final Outcome
The NCLT bench issued a procedural order, noting that the main Company Petition is scheduled for a preliminary hearing on 10 July 2026. Consequently, the tribunal directed that this Interim Application (IA) be listed for hearing alongside the main petition on that same date, 10 July 2026. No substantive decisions on the merits of the insolvency plea were made in this order.
Topics: Insolvency Proceeding, Banking Litigation, NCLT