Authority: National Company Law Tribunal, Ahmedabad Bench (Count-2)
Order Date: June 8, 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 multiple interconnected applications (IA/66(AHM)2022, IA/526(AHM)2022, IA/529(AHM)2022, IA/750(AHM)2023, and IA/535(AHM)2026) arising from CP(IB) 60 of 2019. The proceedings were initiated under Section 7 of the Insolvency and Bankruptcy Code (IBC) between Bank of India (Applicant) and Khushbu Vinyl Pvt Ltd (Respondent).
The tribunal noted that the learned counsel for the respondent had not complied with an earlier order regarding Provident Fund (PF) dues. The principal issue before the tribunal was the non-compliance with previous directives and the need to streamline the proceedings by removing parties who had not been properly served.
Final Outcome
The tribunal issued two key directions:
1. Regarding non-compliance with PF dues disclosure: The respondent's counsel was given a "last opportunity" and directed to file compliance with the earlier order by affidavit specifically addressing whether PF dues were outstanding. This compliance must be filed within 7 days from the order date.
2. Regarding deletion of respondents: The applicant was permitted to delete respondent numbers 4, 5, 6, 7, 12, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 27, 29, 30, 31, 32, 34, 37, 39, 41, 44, 45, 47, 50, 54, 56, 58, 59, and 66 from application IA/529(AHM)2022. This deletion was approved after the applicant convened a meeting of the Committee of Creditors (COC) who consented to remove these parties who had not been served.
The matter was listed for further consideration on July 15, 2026. Application IA/535(AHM)2026 was allowed and disposed of accordingly.
Topics: Insolvency Proceedings, Legal Compliance