Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 12/06/2026
Case Overview
The case involves an insolvency petition filed by State Bank of India (Applicant) against an individual, Bharat Bhushan Jain (Respondent), under Section 121 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition is registered as C.P.(IB)/197(AHM)2026. During the hearing, the applicant's counsel, Mr. Aditya Raval, appeared and informed the bench that an application for condonation of delay had been filed after the case number was generated. Based on this submission, the counsel requested an adjournment.
Final Outcome
The two-member bench, comprising Mr. Shammi Khan (Member Judicial) and Mr. Sanjeev Sharma (Member Technical), granted the adjournment. The matter has been relisted for further consideration on 10th July 2026. No substantive hearing on the merits of the insolvency petition or the delay application occurred on this date.
Topics: Insolvency Proceeding, Banking Litigation, NCLT