Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 15/06/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad is hearing proceedings under Section 123 of the Insolvency and Bankruptcy Code, 2016. The matter involves Canara Bank as the applicant versus Shri Mohammad Hussain Farooqui (Personal Guarantor to Corporate Debtor) and M/s Texon Global Pvt Ltd (in Liquidation) as respondents. The case numbers are C.P.(IB)/56(AHM)2026 and IA/302(AHM)2026. The bench comprised Mr. Shammi Khan, Hon'ble Member (Judicial) and Mr. Sanjeev Sharma, Hon'ble Member (Technical). The applicant was represented by Mr. Masoom K Shah, Advocate.
In compliance with the previous order dated 27.04.2026, an additional affidavit was filed on 15.06.2026 (vide Inward No. D 4768), which has been taken on record by the tribunal.
The tribunal has directed its registry to issue notice to the respondent, returnable by the next date of hearing. The applicant is also directed to collect the notice from the registry within three days and serve it upon the respondent along with a copy of this order through Registered Post/Speed-post/Dasti Mode as well as on the registered email ID of the respondent registered with the Ministry of Corporate Affairs (MCA) within seven days.
The respondent is directed to file a reply within two weeks from the date of receipt of notice. Thereafter, any rejoinder must be filed within a period of two weeks. Proof of service must be filed by way of an affidavit before the next date of hearing.
Final Outcome
The case has been adjourned and listed for further consideration on 12 August 2026. No final decision on the insolvency petition has been made at this stage; the order primarily deals with procedural directions for notice issuance and filing of responses.
Topics: Insolvency Proceeding, Banking Dispute, NCLT Hearing