Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 16/06/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard Interlocutory Application IA/928(AHM)2026 in the matter of C.P.(IB)/269(AHM)2025. The application was filed by the Resolution Professional (RP) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Regulation 14(2) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and Rule 11 of the National Company Law Tribunal Rules, 2016. The application sought adjudication on the status of Respondent No.1, Avadh Infrastructure Private Limited, specifically whether it qualifies as a related party of the Corporate Debtor, Turnrest Resources Pvt. Ltd. The financial creditor in the main insolvency proceeding is HDFC Bank Limited. The tribunal heard submissions from the Learned Counsel for the Applicant/RP and perused the material on record.
Final Outcome
The NCLT, without expressing any opinion on the merits of the case, directed the Resolution Professional to examine the claim and status of Avadh Infrastructure Private Limited. The RP is specifically tasked with determining whether the respondent falls within the ambit of a related party as defined under the IBC. The RP must afford Avadh Infrastructure a due opportunity of hearing and representation and consider all documents, records, and submissions furnished by the parties. The RP is mandated to take a reasoned decision in accordance with the law within 7 days from the date of receipt of this order and communicate the decision to all concerned stakeholders. All rights and contentions of the parties were kept open. With these directions, the application IA/928(AHM)2026 was disposed of.
Topics: Insolvency, Related Party, NCLT Order