Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 10/06/2026
Case Overview
This matter involves proceedings under Section 9 of the Insolvency and Bankruptcy Code (IBC) between applicant Krishna Colour Chem (through its Partner Bhaveshkumar K Maniar) and respondent SpelGranito Pvt Ltd. The case is registered as IA/1097(AHM)2025 in C.P.(IB)/119(AHM)2022. The tribunal noted that there are remaining issues to be decided in the matter and has directed the parties to file comprehensive written submissions.
Final Outcome
The NCLT bench comprising Member (Judicial) Mr. Shammi Khan and Member (Technical) Mr. Sanjeev Sharma ordered that written submissions along with chronology of events and legal citations must be filed within seven days, after exchanging the same with each other. The matter has been listed for arguments on the next hearing date of 08/07/2026. The order was passed in hybrid mode with representation from multiple parties including the applicant's counsel, erstwhile resolution professional, Axis Bank's counsel, respondent's proxy advocate, and the liquidator Mr. Arvind Gaudana.
Topics: Insolvency Proceedings, NCLT Hearing, Corporate Debt Resolution