Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 15/06/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard proceedings under Section 123 of the Insolvency and Bankruptcy Code, 2016. The matter involves Canara Bank as the applicant versus Shri Abdul Majid Farooqui (Personal Guarantor to Corporate Debtor) and M/s Texon Global Pvt Ltd (in Liquidation) as respondents. The case numbers are C.P.(IB)/59(AHM)2026 along with IA/304(AHM)2026. The bench comprised Hon'ble Member Mr. Shammi Khan (Judicial) and Hon'ble Member Mr. Sanjeev Sharma (Technical).
In compliance with the previous order dated 27.04.2026, an additional affidavit was filed on 15.06.2026 (Inward No. D 4770), which has been taken on record by the tribunal.
Final Outcome
The NCLT directed the registry to issue notice to the respondent, returnable by the next date of hearing. 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, followed by a rejoinder (if any) within a further period of two weeks. Proof of service must be filed by way of affidavit before the next hearing date. The matter has been adjourned and re-listed for further consideration on 12 August 2026.
Topics: Insolvency Proceedings, Banking Litigation, NCLT Matter