Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: July 6, 2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard IA/1351(AHM)2025 in C.P.(IB)/281(AHM)2025, a proceeding under Section 123 of the Insolvency and Bankruptcy Code (IBC). The application was filed by Reliance Asset Reconstruction Company Limited against Mr. Pankaj Kantilal Morakhia, who is identified as a personal guarantor in the matter. The respondent, Mr. Morakhia, was not present at the hearing due to medical reasons. The applicant was represented by proxy counsel Mr. Shubham Singh (for Mr. S.C. Bhatt, Adv.), while the respondent was represented by Mr. Pranjit Bhattacharya, Adv.
The tribunal noted that the matter required consideration of the status of a meeting that was supposed to be held as recorded in the previous order dated June 3, 2026. The applicant's counsel sought another opportunity to file the status report of this meeting.
Final Outcome
The NCLT bench comprising Member (Judicial) Mr. Shammi Khan and Member (Technical) Mr. Sanjeev Sharma adjourned the proceedings and re-listed the matter for further consideration on July 15, 2026. No substantive decision was made on the merits of the case during this hearing.
Topics: Insolvency Proceedings, Legal Adjournment