Authority: National Company Law Tribunal (NCLT), Ahmedabad Bench - Court 2
Order Date: 15 June 2026
Case Overview
This proceeding, registered as CP(IB) 268 of 2020, involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The applicant is Arrow Engineering Ltd, and the corporate debtor/respondent is Golden Tobacco Ltd. The matter was heard by a bench comprising Judicial Member Mrs. Chitra Hankare and Technical Member Dr. Velamur G Venkata Chalapathy. Counsel for the applicant, Mr. Anurag Bisaria, informed the tribunal that the matter is currently pending before the Hon'ble Supreme Court of India. He further submitted that a stay has been granted on the proceedings by the Hon'ble National Company Law Appellate Tribunal (NCLAT). Counsel for the respondent, Mr. Gaurav Tanwar, was also present.
Final Outcome
The NCLT bench directed the Resolution Professional (RP) to file an affidavit before the next date of hearing. This affidavit must be accompanied by the relevant orders from both the Hon'ble Supreme Court and the Hon'ble NCLAT. The case has been adjourned and is listed for further consideration on 18 August 2026. The practical consequence is a continuation of the stay on the insolvency proceedings against Golden Tobacco Ltd until the higher courts' matters are resolved.
Topics: Corporate Insolvency, Legal Proceedings, NCLT