Authority: National Company Law Tribunal (NCLT), Division Bench, Court - 1, Ahmedabad

Order Date: 15/06/2026

Case Overview

This order pertains to two Interlocutory Applications (IAs) filed in the main Company Petition C.P.(IB)/269(AHM)2023 concerning the corporate insolvency resolution process of Honest Derivatives Pvt. Ltd.

  • IA No.304: Titled 'IA(Liq.)Progress Report /54(AHM)2026', this is an application filed by the Liquidator, Akhil Ahuja, under Regulation 15 of the Insolvency and Bankruptcy Board of India (IBBI) Regulations read with Section 60(5) of the Insolvency and Bankruptcy Code (IBC) and Rule 11 of the NCLT Rules, 2016. It appears to be a routine progress report filing by the liquidator.
  • IA No.305: Titled 'IA/678(AHM)2026', this is an application filed by Garden Court Distilleries Pvt. Ltd. against the Liquidator of Honest Derivatives Pvt. Ltd. It was filed under Section 60(5) of the IBC read with Regulation 32(e) and 32A of the IBBI Regulations, 2016, and Rule 11 of the NCLT Rules, 2016. The specific nature of Garden Court Distilleries' plea is not detailed in the provided text.

The matter was listed before the bench comprising Mr. Shammi Khan, Member (Judicial) and Mr. Sanjeev Sharma, Member (Technical) for the pronouncement of an order on these applications.

Final Outcome

The bench has deferred the pronouncement of its order. The reason for the deferral is that the tribunal had previously granted the involved parties a period of seven days to file their written submissions, and this window was due to expire on the same day the order was to be pronounced (15/06/2026). The new date for the pronouncement of the order is not mentioned in the provided text.

Topics: NCLT Proceeding, Liquidation Process, Procedural Deferral