Authority: National Company Law Tribunal Mumbai Special Bench Court II
Order Date: 12 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Mumbai Special Bench Court II heard matters related to petition C.P.(IB)/3500(MB)2019 filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). The case involves JM Financial Asset Reconstruction Company Limited as the financial creditor/applicant versus Shubh Hospitality Private Limited as the corporate debtor/respondent. An additional Intervention Petition numbered MB/9/2024 was also heard alongside the main petition.
The bench comprised Hon'ble Member (Technical) Shri Sanjiv Dutt and Hon'ble Member (Judicial) Shri K R Saji Kumar. Representation included Senior Advocate Chetan Kapadia along with Advocate Rohan Agarwal for the applicant, Advocates Nausher Kohli and Vividh Tandon for the respondent, and Advocate Vedchetan Patil representing the corporate debtor.
Final Outcome
The tribunal has reserved orders for both the main petition under Section 7 IBC and the intervention petition. The parties have been directed to file their written submissions within a period of two days from the order date (12 June 2026), after which no further submissions will be accepted on record. The matter remains pending until the final order is pronounced.
Topics: Insolvency Proceedings, NCLT Hearing, Corporate Debt