Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 15/06/2026
Case Overview
The National Company Law Tribunal (NCLT), Ahmedabad Bench comprising Hon'ble Mr. Shammi Khan (Member Judicial) and Hon'ble Mr. Sanjeev Sharma (Member Technical) heard matters C.P.(IB)/57(AHM)2026 with IA/305(AHM)2026. The proceedings were initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Canara Bank (Applicant) against Shri Sajid Mohd. Farooqui (Personal Guarantor to M/s Texon Global Pvt Ltd) as Respondent. The matter represents a corporate insolvency resolution process initiated by a financial creditor.
Final Outcome
The Tribunal admitted the application and issued formal notice to the Respondent through the Registry. The Applicant (Canara Bank) was directed to collect the notice from the Registry within three days and serve it upon the Respondent along with a copy of the order through Registered Post/Speed-post/Dasti Mode, as well as on the registered email ID of the Respondent registered with the Ministry of Corporate Affairs, within seven days. The Respondent was directed to file a reply within two weeks from the date of receipt of notice, with any rejoinder to be filed within a further period of two weeks. Proof of service must be filed by way of affidavit before the next hearing date. The case has been listed for further consideration on 12 August 2026.
Topics: Banking NPA, Insolvency Proceedings, NCLT Admission