Case Details

Case Name: Avon Cottex Pvt. Ltd. vs Anandtex International Pvt. Limited

Court/Authority: National Company Law Tribunal Chandigarh Bench (Court – II)

Case Number: CP (IB) No.152/Chd/Hry/2018 (Admitted)

Interlocutory Applications: IA(I.B.C.)/689(CH)2022, IA(I.B.C)/1569(CH)2023, IA(I.B.C)/580(CH)2024, IA(I.B.C)/39(CH)2023, IA(I.B.C)/40(CH)2023, IA(I.B.C)/41(CH)2023, IA(I.B.C)/1297(CH)2023, IA(I.B.C.)/831(CH)2024

Sections Involved: Sections 9, 60(5), 45(1), 66(1), 44(1) of the Insolvency and Bankruptcy Code, 2016 and Rule 11 of NCLT Rules, 2016

Order Date: 19 May 2026

Next Hearing Date: 3 June 2026

Coram: Shri. Shishir Agarwal (Member Technical) and Shri. K. Biswal (Member Judicial)

Parties Involved

Petitioner/Applicant: Avon Cottex Pvt. Ltd.

Respondent: Anandtex International Pvt. Limited

Other Parties Represented:

  • Bank of India (Ex promoter) represented by Mr. Vinish Singla, Advocate in IA(I.B.C)/689(CH)2022
  • Propounder of the Scheme (Respondent Nos. 1& 2 in IA(I.B.C)/689(CH)2022) represented by Mr. Abhishek Anand, Mr. Karan Kohli, Ms. Arshita Girdhar, Advocates
  • Liquidator in all IAs represented by Mr. Anand Chhibbar, Senior Advocate with Mr. Yashpal Gupta, Advocate and Mr. Hitesh Goel, Liquidator
  • Applicants in IA(I.B.C.)/831(CH)2024 represented by Adv. J Rajesh, Adv. Yashwardhan Aggarwal, Adv. Arsalan Ahmed, Adv. Ali Abbas Masoodi
  • Respondent HSVP (In IA No. 1297 of 2023) represented by Mr. Arvind Seth, Advocate

Proceedings

The matter involved multiple interconnected applications in the admitted insolvency proceeding of Avon Cottex Pvt. Ltd. The applications were heard by a special bench of the NCLT Chandigarh. After hearing representations from all parties including the corporate debtor, the financial creditor (Bank of India), the liquidator, and the scheme propounder, the tribunal adjourned the matter. All applications have been listed for next hearing before the regular bench on 3 June 2026. The order does not contain any substantive findings, observations, penalties, or directions at this stage, being purely procedural in nature regarding the scheduling of further hearings.

Current Status

The case remains pending with the next hearing scheduled for 3 June 2026 before the regular bench of NCLT Chandigarh.