Authority: National Company Law Tribunal, Ahmedabad Bench (Court 2)
Order Date: June 9, 2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard an application (IA/873(AHM)2026) in the matter of CP(IB) 206 of 2017, which involves proceedings under Section 9 of the Insolvency and Bankruptcy Code (IBC). The case is between Nikita Enterprise (Applicant) and Kohinoor Diamonds Pvt Ltd (Respondent). The applicant's counsel, Mr. Arjun Padhiyar, appeared before the bench consisting of Member (Judicial) Mrs. Chitra Hankare and Member (Technical) Dr. Velamur G Venkata Chalapathy. The counsel submitted that one litigation remains pending in the matter and requested an extension of the liquidation period. The tribunal noted that all assets of the corporate debtor have been disposed of with the approval of the Stakeholders Consultation Committee (SCC).
Final Outcome
The NCLT disposed of the application IA/873(AHM)2026 by granting a 30-day extension to the liquidation process period. The extension is effective from July 1, 2023. The tribunal also directed the applicant to file an appropriate application to conclude the proceedings, given that all assets have been liquidated.
Topics: Insolvency Proceedings, NCLT Order