Case Details
Case Name: State Bank of India vs. Rajesh Gaurishankar Poddar Personal Guarantor of Loha Ispaat Ltd. & Anr.
Court/Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Case Number: Company Appeal (AT) (Insolvency) No. 529 of 2026 & I.A. No. 2040 of 2026
Date of Order: May 25, 2026
Hearing Mode: Hybrid Mode
Parties Involved
Appellant: State Bank of India
Represented by: Mr. Harshit Khare, Mr. Prafful Saini, Mr. Ayuj Agrawal, Advocates
Respondents:
1. Rajesh Gaurishankar Poddar (Personal Guarantor of Loha Ispaat Ltd.)
2. Another Respondent (not named in detail)
Represented by: Mr. Pritam Desai, Advocate for Respondent No. 1
Tribunal Members:
- Justice Ashok Bhushan (Chairperson)
- Barun Mitra (Member Technical)
Procedural Rulings
I.A. No. 2040 of 2026: The application sought condonation of 5 days delay in filing the appeal. The NCLAT found sufficient cause shown in the application and condoned the delay. The application was disposed of.
Service of Documents: Learned counsel for Respondent No. 1 prayed that copy of appeal may be served on him. The Tribunal directed that copy of appeal be served on the Respondent within a week.
Next Hearing
The appeal is listed for next hearing on July 5, 2026.
Note
This order deals primarily with procedural matters (delay condonation and service of documents) and does not contain substantive findings on allegations, violations, penalties, or financial impacts. The substantive hearing of the insolvency appeal is scheduled for July 5, 2026.