Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 08/06/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard two interconnected applications (IA/711(AHM)2026 and IA/712(AHM)2026) filed under Section 95 of the Insolvency and Bankruptcy Code (IBC) in the main matter C.P.(IB)/332(AHM)2025. The applications involve Equentia Financial Service Pvt. Ltd as the applicant and Mr. Anmol Singh Jaggi as the respondent. The proceedings concern insolvency resolution against the corporate debtor and its personal guarantor.
The service reports filed by the Applicant/Resolution Professional on May 29, 2026 (Inward Diary No. D-4316 for IA/711 and D-4314 for IA/712) were taken on record. The affidavit of service confirmed that notices were successfully delivered to all respondents via Registered Post on May 18-19, 2026, and through electronic mode on May 12-13, 2026. The tribunal declared service upon all respondents as sufficient and complete.
Multiple legal representatives appeared for various respondents. Mr. R.P. Vats, Adv. appeared for Respondents 1, 3, and 7 in IA/711 and for Respondents 2, 4, and 8 in IA/712. Mr. Anip Gandhi, Adv. appeared for STCI (Respondent No. 2 in IA/711). Mr. Agastya Vidur Nehara, Adv. appeared for the Personal Guarantor (Respondent No. 1 in IA/712). Several respondents (5, 6, 8 to 11 in IA/711 and 5 to 7, 9 to 12 in IA/712) were not represented.
The counsel for Respondent No. 2/STCI in IA/711 stated that their reply had already been filed. The counsel for the Personal Guarantor (Respondent No. 1 in IA/712) submitted that a reply had been filed electronically on June 6, 2026, with a copy served upon the Applicant/RP, and undertook to file the physical copy by the next day.
Final Outcome
The NCLT granted an extension of 10 days to Respondent Nos. 1, 3, and 7 in IA/711 and Respondent Nos. 2, 4, and 8 in IA/712, along with remaining respondents, to file their replies. Any rejoinder must be filed within 10 days after the reply period. The Personal Guarantor was directed to serve a copy of its reply upon all Financial Creditors, who may then file their responses within 10 days. Both applications were adjourned to July 3, 2026, for further consideration and arguments. The order was signed by Member (Technical) Sanjeev Sharma and Member (Judicial) Shammi Khan.
Topics: Insolvency Proceedings, Personal Guarantee, NCLT Adjournment