Authority: National Company Law Tribunal (NCLT), Ahmedabad Bench - Court 2
Order Date: 16/06/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC). The application was filed by Mangaldas Finance (a sole proprietorship of Asit Surendrabha Shah) as the financial creditor against corporate debtor Milano Papers Private Limited. The case is registered as C.P.(IB)/38(AHM)2026, Item No. 203.
The tribunal noted that the learned counsel for the applicant had failed to file a rejoinder in compliance with an earlier order of the tribunal. As a consequence, the respondent's right to file a rejoinder was closed by the bench.
Final Outcome
After hearing both parties represented by their advocates, the tribunal permitted both sides to file written submissions of no more than two to three pages by 10:30 AM on the following day (17/06/2026). Following this directive, the bench reserved its order on the matter, meaning a final decision will be delivered at a later date.
The bench was composed of Hon'ble Member (Judicial) Mrs. Chitra Hankare and Hon'ble Member (Technical) Dr. Velamur G Venkata Chalapathy. The applicant was represented by advocates Mr. Jaimin Dave and Ms. Hirva Dave, while the respondent was represented by advocates Mr. Tirth Nayak and Mr. Yashraj Champavat.
Topics: Insolvency, NCLT Proceedings