Case Details
Case Name: State Bank of India vs Mr. Bharath Dayanand
Court/Authority: National Company Law Tribunal (NCLT), Bengaluru Bench
Case Number: CP (IB) No.42/BB/2024
Interlocutory Application Numbers: I.A No. 505/2024 & I.A No. 227/2026
Date of Order: 25 May 2026
Legal Basis: Petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016
Parties Involved
Petitioner: State Bank of India
Respondent: Mr. Bharath Dayanand (appeared party-in-person)
Representative for Resolution Professional: Mrs. Chitha Nirmala
Tribunal Bench: Shri. Sunil Kumar Aggarwal (Hon'ble Member - Judicial) and Shri. Radhakrishna Sreepada (Hon'ble Member - Technical)
Issues / Allegations / Violations
The primary matter is an insolvency petition filed by State Bank of India against Mr. Bharath Dayanand under Section 95(1) of the I&B Code, 2016. The proceedings have been affected by an interim injunction order granted by the Anekal court, which remains in operation and is currently preventing the NCLT from proceeding with the case.
Final Ruling & Enforcement
The NCLT Bench noted that the injunction order from Anekal court is still operational and scheduled to be heard on June 18, 2026. Consequently, the main insolvency petition (CP) along with the interlocutory applications have been postponed and listed for next hearing on July 20, 2026. The order was signed by both members of the bench.