Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: July 10, 2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard and dismissed application IA(Dis.)/15(AHM)2026, which was filed in the matter of CP(IB) 49 of 2017. The proceedings were initiated under Section 10 of the Insolvency and Bankruptcy Code (IBC). The applicant was Somanath Textile Pvt. Ltd (represented by its Liquidator) and the respondent was State Bank of India. The bench comprised Mr. Shammi Khan (Hon'ble Member Judicial) and Mr. Sanjeev Sharma (Hon'ble Member Technical). Advocate Vishal Raval represented the applicant/Liquidator during the hearing conducted in hybrid mode. The tribunal heard arguments from the applicant's counsel and perused the record before reserving the order.
Final Outcome
The NCLT dismissed the liquidation application (IA(Dis.)/15(AHM)2026) filed by Somanath Textile Pvt. Ltd. The order provides closure to this specific application within the broader corporate insolvency resolution process (CP(IB) 49 of 2017) that has been ongoing since 2017.
Topics: Insolvency Proceedings, Banking Dispute