Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 22/06/2026
Case Overview
The matter pertains to Contempt Petition No. Cont.P/16(AHM)2026 in IA/329(AHM)2022 in CP(IB) 211 of 2020, which arose from proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016. The case involved State Bank of India as the applicant and Archon Engicon Ltd as the respondent. The contempt petition was filed within the broader insolvency proceedings initiated against Archon Engicon Ltd.
During the hearing, the learned proxy counsel for State Bank of India, Ms. Gunjan Agarwal (appearing for Mr. Ravi Pahwa), initially requested a pass-over to seek instructions. In the second round, the counsel sought instructions from the liquidator and subsequently applied to withdraw the contempt petition while seeking liberty to file an appropriate application in the future.
Final Outcome
The National Company Law Tribunal, comprising Hon'ble Member (Judicial) Mr. Shammi Khan and Hon'ble Member (Technical) Mr. Sanjeev Sharma, dismissed Contempt Petition No. Cont.P/16(AHM)2026 as withdrawn. The tribunal granted liberty to State Bank of India to file an appropriate application in the future regarding this matter. The order was signed by both members of the bench.
Topics: Insolvency Proceedings, Legal Withdrawal