Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: October 6, 2026
Case Overview
The appeal (Comp. App. (AT) (Ins) No. 1874 of 2026) was filed by State Bank of India & Anr. against an order passed by the Adjudicating Authority. The appellant argued that the Adjudicating Authority did not properly consider their submissions and passed an "enormous order." The Resolution Professional (Respondent No. 2), represented by Mr. Sajjan Kumar Dokania, appeared in person and made a significant commitment regarding reporting requirements under the Insolvency and Bankruptcy Code, 2016.
Final Outcome
The NCLAT bench comprising Justice Mohammad Faiz Alam Khan (Member-Judicial) and Naresh Salecha (Member-Technical) admitted the appeal for consideration. The Tribunal granted the Resolution Professional two weeks to file a reply and stay application, with the appellant given one week thereafter to file a rejoinder. Notice was issued to Respondent No. 1 with directions to complete service steps within three working days. The Resolution Professional's commitment not to file any report under Sections 112 and 113 of the Insolvency and Bankruptcy Code, 2016 against the appellant was formally recorded. The matter is listed for next hearing on November 20, 2026.
Topics: Insolvency Appeal, Banking Litigation, NCLAT Proceedings