Authority: National Company Law Tribunal, Ahmedabad Single Bench (Court-2)
Order Date: 09/10/2026
Case Overview
This matter involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) filed by Raymon Patel Gelatine Pvt Ltd against Terrene Pharma Pvt Ltd (CP(IB) 582 of 2018). The hearing was for the consideration of IA/718(AHM)2026. The applicant's counsel, Mr. Rushabh Shah, was initially absent but appeared later. An official from Karur Vysya Bank was present as directed by the tribunal. The liquidator for respondent Terrene Pharma Pvt Ltd, Mr. Bhupendra Singh Rajput, was present virtually but faced internet connectivity issues. Counsel for the liquidator, Ms. Natash Shah, appeared and submitted that the applicant's counsel had not filed the rejoinder affidavit.
Final Outcome
The tribunal, presided by Hon'ble Member (Judicial) Mrs. Chitra Hankare, directed the applicant's counsel to file the rejoinder affidavit within one week, with a copy to the other side. The matter was adjourned and listed for further consideration on 20.11.2026. No substantive decisions on the insolvency application were made in this hearing.
Topics: Insolvency Proceeding, NCLT Hearing, Corporate Debt