Authority: National Company Law Tribunal (NCLT), Ahmedabad Bench (Court-2)
Order Date: 15 July 2026
Case Overview
This proceeding, identified as IA/1071(AHM)2026 in IA/498(AHM)2021 in CP(IB) 332 of 2020, is an interlocutory application filed under the Insolvency and Bankruptcy Code (IBC). The application was filed by the Liquidator in the matter of SVM Cera Pvt Ltd versus Gokul Ceramic Pvt Ltd. The Liquidator sought an extension of the liquidation timeline. The tribunal noted that the Liquidator had been unable to serve notices upon the suspended management of the corporate debtor, despite previous orders being passed in applications related to preferential, undervalued, fraudulent, or extortionate transactions (PUFEs).
Final Outcome
The NCLT bench, comprising Member (Judicial) Mrs. Chitra Hankare and Member (Technical) Dr. Velamur G Venkata Chalapathy, disposed of the application. The tribunal granted a 30-day extension to the liquidation process, effective from June 30, 2026. Crucially, the Liquidator was directed to convene a meeting of the creditors to appraise them of all 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 Proceeding, Liquidation Timeline, NCLT Order