NCLT Ahmedabad Extends Khodabhai Thumar Bankruptcy Process 180 Days

NCLT Ahmedabad approves 180-day extension for bankruptcy process of Mr. Khodabhai Thumar, personal guarantor of New-Tech Forge and Foundry Limited.
Process extension sought to complete e-auction of bankrupt's 25% share in agricultural land valued at ₹20 lakh fair value.
Committee of Creditors, comprising SBI (88.82%) and PNB (11.18%), unanimously approved the extension request.
Bankruptcy Trustee granted until 04 August 2026 to finalize asset realization and submit compliance report.