Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 09/06/2026
Case Overview
The application was filed by Ratnaafin Capital Pvt. Ltd. under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. The respondent was Mr. Alkeshbhai Gulabchand Agrawal, who is a personal guarantor to Saarthi Pedalogy Pvt. Ltd. During proceedings, learned counsel for the applicant, Mr. Arpit Singhvi, sought leave to withdraw the present application. The reason cited was that an earlier petition against the same personal guarantor, registered as C.P. (IB) No. 111 of 2026, is already pending before the same Adjudicating Authority. In that prior petition, an interim moratorium under Section 96 of the Code is already in force.
Final Outcome
The NCLT bench comprising Mr. Shammi Khan (Member Judicial) and Mr. Sanjeev Sharma (Member Technical) dismissed the application (C.P. (IB)/179(AHM)2026) as withdrawn. The order specifically grants liberty to the applicant to file afresh on the same cause of action as may be permissible in law.
Topics: Insolvency Proceedings, Legal Withdrawal