Authority: National Company Law Tribunal (NCLT), Division Bench, Court - 1, Ahmedabad
Order Date: 15/06/2026
Case Overview
This proceeding involves an application filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The applicant is UG Fincon Advisors LLP, and the respondent is Mr. Umang Thakkar in his capacity as the Personal Guarantor (PG) of Dharmadev Infrastructure Limited. The matter is being heard alongside two interlocutory applications (IA/577(AHM)2026 and IA/915(AHM)2026).
The Personal Guarantor, Mr. Umang Thakkar, filed a reply to the application through both electronic mode on 14th June 2026 and physical mode on 15th June 2026 (Inward Diary No. D-4773). The learned counsel representing the Applicant/Interim Resolution Professional (IRP), Ms. Preeti Yadav, and the counsel for the Financial Creditor, Mr. Tarak Damani, both stated that there was no need to file any rejoinder to the reply submitted by the Personal Guarantor.
Final Outcome
The Tribunal, comprising Member (Judicial) Mr. Shammi Khan and Member (Technical) Mr. Sanjeev Sharma, admitted the reply filed by the Personal Guarantor on record. Consequently, the right of the IRP and the Financial Creditor to file a rejoinder was formally closed. The case has been adjourned and is now listed for arguments on the next hearing date, which is 13th July 2026.
Topics: Insolvency Proceeding, Personal Guarantee, NCLT Hearing