Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 06/07/2026
Case Overview
The proceedings involve an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, with Axis Bank Ltd as the applicant and Avantha Power & Infrastructure Ltd as the respondent. The specific matter before the tribunal comprises two interlocutory applications: IA/31(AHM)2025 and IA/527(AHM)2026. IA/527(AHM)2026 was filed within IA/31(AHM)2025 seeking substitution. The bench, comprising Member (Judicial) Shammi Khan and Member (Technical) Sanjeev Sharma, heard arguments from counsel for both parties. Mr. Sumit Parikh represented the applicant (Axis Bank), while Mr. Diwakar Maheshwari represented the respondents. Written submissions were filed by both sides and taken on record. The submissions from Axis Bank were filed on 16.06.2026 (Inward Diary No. D-4923). Written submissions were also filed on behalf of Respondent No. 1 on 16.06.2026 (Inward Diary No. D-4858) and on behalf of Respondent Nos. 2, 3 & 5 on 15.06.2026 (Inward Diary Nos. D-4779, D-4778, and D-4783).
Final Outcome
The tribunal has reserved its order on IA/527(AHM)2026. The main application, IA/31(AHM)2025, in which the substitution was sought, has been relisted for the next hearing on 18.08.2026. The final ruling on the substitution application is pending.
Topics: Insolvency Proceedings, NCLT Hearing