Case Overview

The document contains orders from seven separate proceedings heard by the NCLT Ahmedabad bench on July 10, 2026. The cases involve various applications under different statutes including the Insolvency and Bankruptcy Code, 2016 (IBC) and the Companies Act, 2013.

Items 214-217: These are four separate applications filed by State Bank of India (Stress Asset Management Branch) under Section 121 read with Section 123 of the IBC and Rule 7(1) of the Insolvency and Bankruptcy (Application to Adjudication Authority for Bankruptcy Process for Guarantors to Corporate Debtor) Rules, 2019 against personal guarantors:

  • C.P.(IB)/125(AHM)2026: vs Mrs. Hetalben Bhaveshbhai Kakadia
  • C.P.(IB)/127(AHM)2026: vs Yogeshkumar Chimanlal Patel
  • C.P.(IB)/129(AHM)2026: vs Tikhabhai Ranabhai Khamal
  • C.P.(IB)/130(AHM)2026: vs Nanjibhai Ranabhai Khamal

In each case, the applicant had filed an affidavit of compliance on July 7, 2026 (with different inward numbers: D 5586, D 5676, D 5677, D 5678 respectively) in compliance with extended orders dated June 29, 2026.

Item 220: IA/956(AHM)2026 in C.P.(IB)/395(AHM)2025 - An interlocutory application concerning Zankarsing Kishorsing Solanki (Personal Guarantor of M/s Torque Automotive Pvt Ltd) vs Bank of Baroda & Others. The applicant had filed a Service Affidavit on July 6, 2026 (Inward No. D-5444) showing service of notice upon Respondent No. 1 through Registered Post and Dasti on July 1, 2026, upon Respondent No. 2 through Registered Post and Dasti on June 30, 2026, and upon both respondents through E-mode on June 29, 2026.

Item 221: CP/21(AHM)2024 - Proceedings under Sections 241 & 242 read with 213 of the Companies Act, 2013 between Kailash Ramkishan Gupta & Another vs Indian Commodity Exchange Limited & Others. During submissions, it was revealed that Respondent Nos. 2 to 4 (who were Directors, CEO/CFO of Respondent No. 1 at the relevant time) have resigned and are no longer associated with the company, and the management has changed.

Item 222: IA/78(AHM)2026 - Transfer Petition 99-A/2016(CA 153 of 2015) with TP 99 of 2016(CP 48 of 2015) involving proceedings under Sections 397-398 of the Companies Act, 1956 between Nareshkumar Mangeram Mittal vs Blue Orange Developers Pvt Ltd.

Final Outcome

For Items 214-217: The tribunal directed the registry to issue notices to the personal guarantors returnable by the next date (July 29, 2026). The applicant (SBI) was directed to collect notices within three days and serve them upon the personal guarantors along with copy of the order through Registered Post/Speed-post, Dasti mode, and registered email within seven days. The personal guarantors were directed to file replies within seven days from receipt of notice, with rejoinders to be filed within seven days thereafter. Proof of service must be filed by affidavit before the next hearing on July 29, 2026.

For Item 220: Service was held to be sufficient. Respondents 1 and 2 appeared through counsel who filed Vakalatnamas on July 9, 2026 (Inward Nos. D-5687 and D-5704). The respondents were granted seven days to file replies, with rejoinder to be filed within seven days thereafter. The matter was listed for August 5, 2026.

For Item 221: The respondents were directed to file an affidavit affirming that Respondent Nos. 2-4 have resigned and are no longer associated with the company, and to place on record the present status of these respondents. Both parties were directed to file a date-wise status report covering the period from filing of the company petition till date within one week. The respondents were also directed to place on record particulars of the present management and current business operations. The matter was listed for August 5, 2026.

For Item 222: The matter was adjourned at the request of the petitioner's counsel. The provisional liquidator was directed to remain present (physically or virtually) and the applicant's counsel was directed to remain physically present on the next hearing date. The matter was listed for preliminary hearing on July 17, 2026.

Topics: NCLT Proceedings, Personal Guarantor Bankruptcy, Corporate Disputes