Authority: National Company Law Tribunal (NCLT), Division Bench, Court - 1, Ahmedabad
Order Date: 15/07/2026
Case Overview
This application (IA/1013(AHM)2026) was filed by the Liquidator of Zep Infratech Ltd., acting through the Resolution Professional (RP) Nimai Gautam Shah, under Section 44(2) of the IBBI (Liquidation Process) Regulations, 2016 read with Section 60(5) of the Insolvency and Bankruptcy (IB) Code, 2016 and Rule 11 of the NCLT Rules, 2016. The application sought an extension of the liquidation process for the Corporate Debtor, Gabriel Ventures India Private Limited. The Tribunal noted that a related appeal (Company Appeal No. 762 of 2026) filed by the erstwhile RP against the liquidation order dated 30.06.2026 had been dismissed as withdrawn on 13.07.2026. The primary reason for seeking the extension was the pendency of the final report from a forensic auditor and the expectation of receiving funds from the debtors of the Corporate Debtor in the next quarter. This request was supported by a resolution passed with a 100% majority in the 4th Stakeholders Consultation Committee (SCC) meeting held on 25.06.2026.
Final Outcome
The NCLT bench, comprising Member (Technical) Sanjeev Sharma and Member (Judicial) Shammi Khan, allowed the application. The liquidation period for Gabriel Ventures India Private Limited was extended by three months, effective from 01.07.2026. The Liquidator was directed to expedite the process and ensure its completion within this extended timeframe. The application was disposed of accordingly.
Topics: Insolvency, Liquidation Process