Authority: National Company Law Tribunal (NCLT), Division Bench, Court - 1, Ahmedabad
Order Date: July 13, 2026
Case Overview
The matter involves an application filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IB Code, 2016). The applicant is UG Fincon Advisors II P. The respondent is Mr. Umang Thakkar, who is the Personal Guarantor (PG) of the corporate debtor, Dharmadev Infrastructure Limited. The case was listed for arguments alongside two interconnected Interlocutory Applications (IAs): IA/577(AHM)2026 and IA/915(AHM)2026.
Final Outcome
The bench, comprising Member (Judicial) Shammi Khan and Member (Technical) Sanjeev Sharma, adjourned the hearing. The adjournment was granted at the request of the learned counsel representing the Respondent/Personal Guarantor, Mr. Umang Thakkar. The reason cited for the request was a bereavement in the personal guarantor's family. The matter has been relisted for arguments on the next date of hearing, which is July 21, 2026.
Topics: Insolvency, Legal Proceedings