Authority: National Company Law Tribunal (NCLT), Ahmedabad Bench - Court 2
Order Date: 06 July 2026
Case Overview
The National Company Law Tribunal (NCLT), Ahmedabad Bench, comprising Mrs. Chitra Hankare (Member - Judicial) and Dr. Velamur G Venkata Chalapathy (Member - Technical), heard two interconnected applications: IA/658(AHM)2023 and IA/91(AHM)2024. These applications are part of the main insolvency petition, C.P.(IB)/9(AHM)2021, filed by Bank of India (Applicant) under Section 7 of the Insolvency and Bankruptcy Code (IBC) against Shree Rajeshwaranand Paper Mills Ltd (Respondent). The proceedings are at a procedural stage.
Final Outcome
The bench noted that a leave note had been received from the advocate for Respondent No. 3, Mr. Arjun Padhiyar. The tribunal directed that Mr. Padhiyar must remain present at the next hearing. The matter was adjourned and listed for further consideration on 11 August 2026. The order did not contain any findings on the merits of the insolvency petition, penalties, or other substantive directions.
Topics: Insolvency Proceeding, NCLT, Banking