Authority: National Company Law Tribunal, Division Bench, Court-1, Ahmedabad
Order Date: 08/06/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard two interlocutory applications (IA/661(AHM)2021 and IA/986(AHM)2023) filed in connection with the main insolvency proceeding CP(IB) 49 of 2017. The applications are part of proceedings under Section 10 of the Insolvency and Bankruptcy Code (IBC) involving Somanath Textile Pvt. Ltd as the applicant and State Bank of India as the respondent. The matter was heard by a bench comprising Mr. Shammi Khan (Member Judicial) and Mr. Sanjeev Sharma (Member Technical).
For IA/661(AHM)2021, the respondents (State Bank of India) filed a reply on 03/06/2026 vide Inward No. D 4437 along with proof of deposit of cost amounting to Rs. 40,000/- in the account of the Applicant/Liquidator. The proof of deposit was filed separately on the same day vide Inward No. D 4436. Both documents were taken on record by the tribunal.
Similarly, for IA/986(AHM)2023 in IA 37 of 2018, the respondents filed a reply on 03/06/2026 vide Inward No. D 4430 along with proof of deposit of cost of Rs. 40,000/- in the Liquidator's account. The proof of this deposit was filed vide Inward No. D 4429 on the same date and was also taken on record.
The applicant's counsel requested additional time to file a rejoinder to the respondents' replies and to complete the process of substitution in both applications.
Final Outcome
The NCLT adjourned both applications for further consideration to 03/07/2026. The tribunal granted the applicant's request for time to file rejoinder and complete substitution formalities. The cost deposits of Rs. 40,000 each made by the respondents were officially recorded by the tribunal.
Topics: Insolvency Proceedings, NCLT Hearing, Cost Deposit