Authority: National Company Law Tribunal, Jaipur Bench
Order Date: June 15, 2026
Case Overview
The State Bank of India (Applicant/Creditor) has filed an insolvency application under Section 121(1)(b) of the Insolvency and Bankruptcy Code, 2016 against Kanak Biyani (Respondent/Personal Guarantor). The case is registered as CP No. (IB)-19/121/JPR/2024. The specific Interlocutory Application being heard is IA No. 244/JPR/2026. The matter was heard by a bench consisting of Hon'ble Ms. Reeta Kohli (Judicial Member) and Hon'ble Ms. Kavita Bhatnagar (Technical Member) via web-based video conferencing. Counsel for the applicant bank was Shweta Saini, while Prateek Kushwaha represented the respondent (referred to as 'the Bankrupt' in the order).
Final Outcome
The NCLT granted an adjournment. Counsel for the respondent accepted notice and requested time to file a reply to the application. The tribunal directed that the reply be filed before the next date of hearing. The matter has been posted for further proceedings on July 10, 2026. No final decision on the merits of the insolvency application was made in this order.
Topics: Insolvency Proceeding, Banking Litigation, NCLT