Authority: National Company Law Tribunal, Ahmedabad Bench (Court 2)
Order Date: 08/06/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad Bench, comprising Member (Judicial) Mrs. Chitra Hankare and Member (Technical) Dr. Velamur G Venkata Chalapathy, heard three interconnected applications in the matter of API Industries Pvt Ltd versus State Bank of India. The proceedings are under Section 10 of the Insolvency and Bankruptcy Code (IBC) in CP(IB) 77 of 2018. The specific applications being heard were IA(Dis.)/19(AHM)2024, IA/216(AHM)2024, and IA/253(AHM)2024. Representation was present for the applicant (Mr. Arjun Sheth, Advocate) and the liquidator (CA Mr. Kiran Shah), while the respondent (State Bank of India) and State Tax Officer were not represented in some applications.
Final Outcome
The Tribunal did not pass any substantive orders on the merits of the case. For IA(Dis.)/19(AHM)2024, the matter was simply adjourned and listed for further consideration on 08.07.2026. For IA/216(AHM)2024 and IA/253(AHM)2024, the Liquidator was directed to take necessary instructions from the financial creditor regarding SCC (likely referring to Secured Creditors Committee) and file a substitution application in pending matters to facilitate a decision on the dissolution application. These matters were also listed for further consideration on 08.07.2026.
Topics: Insolvency Proceeding, NCLT Adjournment, Liquidator Directions