Authority: National Company Law Tribunal (NCLT), Ahmedabad Bench - Court 2
Order Date: 14/07/2026
Case Overview
This order pertains to a series of interim applications (IAs) filed in a proceeding initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The financial creditor in the case is Asset Reconstruction Company (India) Ltd, and the corporate debtor is Neesa Leisure Ltd. The order is a procedural update dealing with the scheduling and directions for multiple IAs linked to the main insolvency petition CP(IB) 127 of 2017.
The tribunal, comprising Member (Judicial) Mrs. Chitra Hankare and Member (Technical) Dr. Velamur G Venkata Chalapathy, noted the appearances of counsel for the applicant, the Resolution Professional (RP) Mr. Amit Jain, and other respondents. For application IA/205(AHM)2022, the counsel for the RP was noted to not have a vakalatnama on record and was directed to file a new one within one week.
Final Outcome
The final outcome is a procedural adjournment for the majority of the applications. The specific dispositions are:
- IA 455 of 2020, IA/469(AHM)2022, IA/150(AHM)2023, IA/155(AHM)2023, IA/126(AHM)2024, IA/1155(AHM)2024: All these applications were adjourned and listed for further consideration on 24.08.2026.
- IA/574(AHM)2022: This application was heard. Both parties were directed to file their written submissions by way of an affidavit, limited to two or three pages, before 10:30 AM on July 15, 2026. The order on this application was reserved.
- IA/205(AHM)2022: Adjourned to 24.08.2026, with a specific direction to the RP's counsel to file a new vakalatnama within one week.
The matter remains pending before the NCLT.
Topics: Insolvency Proceeding, NCLT, Adjournment