Authority: National Company Law Tribunal (NCLT), Ahmedabad Bench - Court 2
Order Date: 15 July 2026
Case Overview
This order pertains to an interlocutory application (IA/1087(AHM)2026) filed within the ongoing insolvency proceedings of Gangotri Glazed Tiles Pvt Ltd (Corporate Debtor). The application was filed by the Liquidator, seeking an extension of the liquidation period by 60 days. The matter originates from a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by operational creditor SVM Cera Pvt Ltd against the respondent, Gangotri Glazed Tiles Pvt Ltd. The tribunal noted that the liquidator has been unable to serve the suspended management of the company, despite previous orders being passed in applications related to fraudulent or undervalued transactions (PUFE applications).
Final Outcome
The NCLT bench, comprising Member (Judicial) Mrs. Chitra Hankare and Member (Technical) Dr. Velamur G Venkata Chalapathy, disposed of the application. Instead of the requested 60-day extension, the tribunal granted a shorter extension of 30 days, effective from 30 June 2026. The Liquidator was directed to convene a meeting of the creditors to appraise them of the pending matters and to file an application for dissolution of the corporate debtor without seeking any further long extensions of the liquidation period.
Topics: Insolvency, NCLT Proceedings