Authority: National Company Law Tribunal, Ahmedabad Bench (Court 2)
Order Date: 16 June 2026
Case Overview
The matter involves proceedings under Section 10 of the Insolvency and Bankruptcy Code (IBC) between Hardik Industrial Corporation Pvt Ltd (Applicant) and State Bank of India (Respondent). The case CP(IB) 78 of 2018 concerns the dissolution of Hardik Industrial Corporation. During the hearing, the applicant's counsel submitted that a compliance affidavit had been filed. A significant development emerged as the Income Tax Department raised a demand after the dissolution application was filed, creating a new complication in the proceedings.
Final Outcome
The NCLT bench granted a final opportunity to the Income Tax Department to file their reply regarding the post-dissolution demand. The matter has been adjourned and listed for further consideration on 6 July 2026. The tribunal indicated that if the Income Tax Department fails to file its reply by the next date, the matter will proceed based on documents already on record.
Topics: Insolvency Proceedings, Tax Claims, Corporate Dissolution