Authority: National Company Law Tribunal (NCLT), Division Bench, Court-1, Ahmedabad
Order Date: June 8, 2026
Case Overview
This order pertains to a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The case, registered as C.P.(IB)/51(AHM)2026, involves Ratnaafin Capital Pvt. Ltd. as the Applicant/Financial Creditor and Saarthi Pedagogy Pvt. Ltd as the Respondent/Corporate Debtor. The matter was deemed mature for arguments as no written submissions had been filed by either side. During the hearing, counsel for both parties jointly requested a short adjournment. They informed the bench, comprising Member (Judicial) Shammi Khan and Member (Technical) Sanjeev Sharma, that settlement discussions between the parties were at an advanced stage. A meeting to finalize the settlement was scheduled to take place on the same day as the order.
Final Outcome
The NCLT bench granted one adjournment to allow the settlement process to conclude. The tribunal directed the matter to be re-listed for further consideration on June 15, 2026. The order explicitly states that in the event the parties fail to arrive at a settlement, the matter shall be heard and decided on the next date of hearing.
Topics: Insolvency, Settlement