NCLT Adjourns K-Lifestyle Insolvency Proceedings to July

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

Order Date: 17/06/2026

Case Overview

The National Company Law Tribunal (NCLT) Ahmedabad heard five interim applications (IA/30(AHM)2021, IA/69(AHM)2021, IA/1312(AHM)2023, IA/1859(AHM)2024, and IA/1867(AHM)2024) in the main insolvency petition CP(IB) 625 of 2018 filed by UCO Bank against K-Lifestyle & Industries Ltd under Section 7 of the Insolvency and Bankruptcy Code (IBC).

The proceedings involve multiple parties including the Resolution Professional (Mr. Ajit Kumar), financial creditors, the State Tax Department, and various respondents. The applications concern procedural matters including compliance affidavits, reply submissions, and scheduling of arguments.

Key Developments by Application

• IA/30(AHM)2021: Respondent No. 5 filed an Affidavit of Compliance along with an FDR on 07.04.2026 as per the order dated 09.03.2026. The Tribunal noted that Respondent No. 6 expired on 02.05.2021, but no relief was sought against them, making impleadment of legal heirs unnecessary. The Resolution Professional was granted permission to file a rebuttal affidavit within two weeks.

• IA/69(AHM)2021: Reply filed by Respondent No. 7 (State Bank of India) on 02.06.2026 (Inward No. D-4403) was taken on record. The Applicant stated no rejoinder was needed. Sur-rejoinder filed by Respondent Nos. 2 to 6 (Financial Creditors) on 11.06.2026 (Inward No. D-4586) was also taken on record. The Applicant was granted ten days to file a rebuttal affidavit. Written submissions filed by Respondent Nos. 2 to 6 on 17.06.2026 (Inward No. D-4912) were taken on record.

• IA/1312(AHM)2023: The Applicant/State Tax Department was unrepresented as their Panel Counsel had resigned. An Additional Affidavit dated 15.06.2026 filed by the Respondent/Resolution Professional (Inward No. D-4838) was taken on record. The Tribunal ordered that notice be served to the State Tax Department, warning that the matter would proceed based on available pleadings if no representation appears at the next hearing.

• IA/1859(AHM)2024: Reply filed by Respondent No. 1 through e-mode on 16.06.2026 and physically across the bar was taken on record. Reply filed by Respondent Nos. 2 to 4 through e-mode on 16.06.2026 and physically on 17.06.2026 (Inward No. D-4904) was also taken on record. The Resolution Professional was granted three weeks to file rejoinder.

• IA/1867(AHM)2024: Reply filed by Respondent No. 5 (Inward No. D-1223 dated 24.02.2026) was already on record. Reply filed by Respondent Nos. 1 to 3 through e-mode and physically (Inward No. D-4935) was taken on record. The Resolution Professional was granted three weeks to file written submissions.

Final Outcome

All five interim applications were adjourned to 22/07/2026 for arguments. All parties were directed to file their written submissions and chronology of events before the next hearing date.

Topics: Insolvency Proceedings, NCLT Hearing, Corporate Debtor