Authority: National Company Law Tribunal, Division Bench, Court-1, Ahmedabad
Order Date: 09/10/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard two interlocutory applications in the matter of Central Bank Of India versus Repute Foods Pvt. Ltd (CP(IB)/303(AHM)2024). IA/1674(AHM)2026 was filed on 16.09.2026 by Kishorbhai Bhanjibhai Vachhani and Schlokas Agro Private Limited under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016. The application challenges the decision of the Committee of Creditors (CoC) dated 26.08.2026 concerning the transfer of assets of Personal Guarantors into the Corporate Insolvency Resolution Process (CIRP) of Repute Foods Private Limited under Section 28A of the Code. The applicants seek to quash the CoC resolution passed in its 19th meeting held on 26.08.2026 and request a declaration that Section 28A of the IBC (which came into force on 26.05.2026) is not applicable to the CIRP of the Corporate Debtor that commenced on 29.08.2025.
Final Outcome
The NCLT bench comprising Mr. Shammi Khan (Member Judicial) and Mr. Sanjeev Sharma (Member Technical) issued notice to the respondents returnable by the next date of hearing. The applicants were directed to serve notice through all permissible modes including Registered Post/Speed Post, Dasti and email. Respondents must file their replies within 03 days of receipt of notice, with any rejoinder to be filed before the next hearing. The matter is listed for further consideration on 23.10.2026. In a separate application (IA/1675(AHM)2026), the Resolution Professional's 4th Status Report for the period from 01.07.2026 to 25.09.2026 was taken on record and placed with the main file, with the application being disposed of.
Topics: Insolvency Proceedings, Legal Challenge