Authority: National Company Law Tribunal (NCLT), Ahmedabad Bench - Court 2
Order Date: June 17, 2026
Case Overview
This proceeding, registered as CP(IB) 342 of 2020, is an application filed by State Bank of India (Applicant) against Steelco Gujarat Ltd (Respondent) under Section 7 of the Insolvency and Bankruptcy Code (IBC). The case was heard by a bench comprising Judicial Member Mrs. Chitra Hankare and Technical Member Dr. Velamur G Venkata Chalapathy. During the hearing, no representative was present for the applicant, State Bank of India. Counsel for the respondent, Mr. Munjal Bhatt, appeared and informed the tribunal that he had filed his vakalatnama (power of attorney) and requested additional time to file a formal reply to the application.
Final Outcome
The NCLT bench directed the respondent, Steelco Gujarat Ltd, to file its reply within 15 days from the order date and to provide a copy to the applicant side. The matter has been adjourned and is next listed for further consideration on July 20, 2026.
Topics: Insolvency, Banking