NCLT Ahmedabad Reserves Orders in Jaybharat Textiles Insolvency

NCLT Ahmedabad Reserves Orders in Jaybharat Textiles Insolvency Case

Authority: National Company Law Tribunal, Ahmedabad Bench (Court 2)

Order Date: 16 June 2026

Case Overview

The National Company Law Tribunal (NCLT) Ahmedabad bench heard multiple Interlocutory Applications (IAs) related to insolvency proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC). The main petition is CP(IB) 266 of 2019, with Vighnaharta Corrugators Pvt Ltd & Others as applicants versus Jaybharat Textiles & Real Estate Ltd as respondent. The proceedings involve four specific IAs: IA/165(AHM)2021, IA 296 of 2020, IA/321(AHM)/2021, and IA/1427(AHM)2025.

During the hearing, proxy counsel for Bank of India appeared and submitted written submissions for three of the applications (IA/165(AHM)2021, IA/321(AHM)/2021, and IA 296 of 2020). For the respondent Jaybharat Textiles, Mr. Pavan S. Godiawala appeared as counsel and sought time to file written submissions for IA/1427(AHM)2025, requesting no more than two to three pages to be filed on the same day. Notably, no representative appeared for the respondent during the actual hearing of the matter.

The bench comprising Mrs. Chitra Hankare (Member Judicial) and Dr. Velamur G Venkata Chalapathy (Member Technical) heard both parties and reserved orders on all four applications pending consideration of the written submissions.

Final Outcome

The NCLT Ahmedabad bench reserved its orders on all four interlocutory applications (IA/165(AHM)2021, IA 296 of 2020, IA/321(AHM)/2021, and IA/1427(AHM)2025). The tribunal will issue its rulings after considering the written submissions filed by Bank of India's counsel and those to be filed by the respondent's counsel for IA/1427(AHM)2025.

Topics: Insolvency Proceedings, NCLT Hearing, Corporate Debt