Authority: Chandigarh Bench (Court – I) of the National Company Law Tribunal (NCLT)
Order Date: 09 June 2026
Case Overview
The State Bank of India filed an insolvency petition (CP(IB) No. 147/Chd/Hry/2022) against Raju Bansal, an individual debtor. The petition was filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, which pertains to application by creditor to initiate insolvency resolution process against a personal guarantor to corporate debtor or against an individual.
The matter was listed for hearing on 09 June 2026 as Item No. 224 before the Chandigarh Bench. However, the bench could not take up the matter for hearing on that date.
Final Outcome
Due to paucity of time, the matter was adjourned to 25 August 2026 for further proceedings. No substantive hearing or decision on the merits of the insolvency petition occurred on this date.
Topics: Banking Insolvency, NCLT Proceedings