Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 22/06/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard two interim applications (IA/807(AHM)2025 and IA/808(AHM)2025) within the main insolvency petition C.P.(IB)/239(AHM)2023. The proceedings were initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016 by financial creditor Drip Capital Inc. against corporate debtor Banwari Enterprises Private Limited. The matter came before the bench comprising Mr. Shammi Khan (Member Judicial) and Mr. Sanjeev Sharma (Member Technical). Representation included Mr. Monaal Davawala for the applicant (Drip Capital Inc.), Mr. Kadam as proxy advocate for Mr. P. M. Lakhani for multiple respondents, and Ms. Anshumi Maloo for respondent 3 in IA/808(AHM)2025. Some respondents were unrepresented.
The tribunal noted that the applicant had again failed to file written submissions in these matters. Upon request from the applicant's counsel, the bench granted an adjournment.
Final Outcome
The NCLT adjourned both interim applications and relisted them for arguments on July 22, 2026. No substantive arguments were heard, and no decisions were made on the merits of the insolvency petition or the interim applications. The proceedings remain pending.
Topics: Insolvency Proceedings, Legal Adjournment, Corporate Debt