Authority: National Company Law Tribunal, Ahmedabad Bench (Court 2)
Order Date: 17 June 2026
Case Overview
This matter involves proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC) in case CP(IB) 238 of 2018 between Pani Logistics (Applicant) and Ganga Advisory Pvt Ltd (Respondent). The hearing concerned IA/1071(AHM)2023, where the applicant's counsel reported receiving a fresh report from the Income Tax Department pursuant to the tribunal's earlier directions. The Income Tax Department's counsel appeared and explained that their report had been communicated to erstwhile counsel with instructions to undertake requisite steps, though it may not have been filed timely. The tribunal noted that the fresh report is substantially the same as the previously filed Income Tax Department report.
Final Outcome
The tribunal directed the applicant's counsel to file written submissions (not exceeding 2-3 pages) within one week. These submissions must specifically clarify: (1) whether any proceedings have been initiated or are presently pending against the suspended management in relation to the substantial Income Tax claim, and (2) whether any IA or any other proceedings have been filed against the suspended management. The matter has been listed for further consideration on 17 July 2026.
Topics: Insolvency Proceedings, Tax Claims