NCLT Ahmedabad hears State Bank of India's insolvency application against personal guarantor Abhay Narendra Lodha for a Rs 16,000 crore debt.
Tribunal directs respondent to file final repayment proposal and net worth certificate after repeated rejections by 84% of CoC members.
RP instructed to convene CoC meeting within 7 days to decide on fresh proposal, with SBI to submit consolidated approval by June 1, 2026.
Matter listed for further consideration on June 3, 2026, with warning of appropriate orders if delays continue.