Authority: National Company Law Tribunal, Ahmedabad Bench (Court 2)
Order Date: 16/06/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad bench, comprising Member (Judicial) Mrs. Chitra Hankare and Member (Technical) Dr. Velamur G Venkata Chalapathy, heard proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC). The petition was filed by Sheth Fincap Services Private Limited (Applicant) against Takshashila Resicom Private Limited (Respondent). During the hearing, counsel for the applicant, Mr. Nipun Singhvi along with Ms. Pragati Tiwari, appeared. The Resolution Professional (RP), Mr. Chetan Patel, was also present. The applicant's counsel submitted that the personal guarantors of the respondent corporate debtor are already under personal insolvency proceedings, and accordingly, the RP has been made a party to the case.
Final Outcome
The tribunal directed the applicant to issue notice upon all respondents along with a copy of the petition. The respondents were directed to file their reply to the petition within seven days from the receipt of the notice and to serve a copy of the same upon the applicant. The applicant's counsel was permitted to file a rejoinder, if any, within one week thereafter. The matter has been listed for further consideration on 10 July 2026.
Topics: Corporate Insolvency, NCLT Proceedings, Section 7 IBC