Authority: National Company Law Tribunal, Court-V, Mumbai Bench
Order Date: 09 June 2026
Case Overview
The National Company Law Tribunal (NCLT), Mumbai Bench, heard matter IVN.P/26/2026 C.P. (IB)/29(MB)2026 involving Saraswat Co-operative Bank Limited as the petitioner and Mr. Sanjay Dattatray Kakade as the respondent. The petition was filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, which pertains to initiation of insolvency resolution process against personal guarantors to corporate debtors. The bank was represented through its authorized signatory Mr. Suresh Luis Dabre. The bench comprised Judicial Member Ashish Kalia and Technical Member Charanjeet Singh Gulati.
Final Outcome
Due to paucity of time, the matter could not be taken up for hearing on 09 June 2026. The tribunal adjourned the proceedings and rescheduled the next hearing for 03 September 2026. The order was signed by both members of the bench.
Topics: Insolvency Proceeding, Banking Litigation, NCLT Adjournment