Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad

Order Date: 17/07/2026

Case Overview

The Company Petition C.P.(IB) & Pre-Packaged/1(AHM)2026 was filed by Eureka Industries Limited as the Corporate Applicant/Corporate Debtor under Sections 54A and 54C of the Insolvency and Bankruptcy Code, 2016. The petition seeks initiation of the Pre-Packaged Insolvency Resolution Process (PPIRP) under Chapter III-A of the Code. The matter was heard in hybrid mode before a bench comprising Mr. Shammi Khan (Hon'ble Member Judicial) and Mr. Sanjeev Sharma (Hon'ble Member Technical). The applicant was represented by Mr. Jatinbhai Kapadia, Company Secretary.

The tribunal directed the Corporate Applicant to file an affidavit disclosing three specific items: (i) the present business status of the Company, (ii) the names and particulars of the persons presently managing and controlling the affairs of the Company, and (iii) the names and particulars of the persons who shall control and manage the Company upon implementation of the proposed Scheme/Base Resolution Plan.

Additionally, the tribunal ordered that notices be issued to the Financial Creditor, the Income Tax Department, the GST Department, and the Registrar of Companies (RoC). The Corporate Applicant was directed to collect these notices from the Registry within three days and effect service upon all respondents via Registered Post/Speed Post, Dasti, and e-mail to their respective registered e-mail addresses, along with a copy of the order.

The Corporate Applicant must file an Affidavit of Service along with proof of service before the next date of hearing. The respondents were directed to file their replies, if any, within seven days from the date of receipt of notice. Any rejoinder must be filed well before the next date of hearing.

Final Outcome

The NCLT admitted the petition for consideration and listed the matter for further hearing on 04.08.2026. The proceedings will continue with the filing of the required affidavit by the company and responses from the notified parties.

Topics: Insolvency Proceedings, Corporate Restructuring