Authority: National Company Law Tribunal, Ahmedabad Bench (Court 2)
Order Date: July 6, 2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad Bench heard matter IA/496(AHM)2022 in CP(IB) 53 of 2017, which is an insolvency petition filed by ICICI Bank Ltd against ABG Shipyard Ltd under Section 7 of the Insolvency and Bankruptcy Code (IBC). The proceeding was listed before a bench comprising Member (Judicial) Mrs. Chitra Hankare and Member (Technical) Dr. Velamur G Venkata Chalapathy.
During the hearing, counsel for the respondent (ABG Shipyard Ltd), Mr. Monaal Davawala, appeared and submitted that the matter is currently pending before the Supreme Court of India. Based on this submission, he requested an adjournment of the NCLT proceedings. No representative or counsel appeared for the applicant (ICICI Bank Ltd) at this hearing.
Final Outcome
The NCLT bench granted the adjournment and listed the matter for further consideration on October 12, 2026. The tribunal did not make any substantive rulings on the insolvency petition itself, pending the outcome of the Supreme Court proceedings.
Topics: Insolvency Proceedings, Legal Adjournment