Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad

Order Date: 15 July 2026

Case Overview

The National Company Law Tribunal (NCLT) Ahmedabad heard proceedings under Section 95 of the Insolvency and Bankruptcy Code (IBC) between the Small Industries Development Bank of India (SIDBI) as applicant and Mrs. Komal Rakshit Patel as respondent. The bench comprised Mr. Shammi Khan (Member Judicial) and Mr. Sanjeev Sharma (Member Technical). Three interlocutory applications were considered: IA/1076(AHM)2026, IA/793(AHM)2026, and IA/794(AHM)2026 in the main matter C.P.(IB)/117(AHM)2025.

For IA/1076(AHM)2026, the tribunal noted that the physical copy of the petition was not available in the record. The Learned Counsel for the Applicant/Resolution Professional was directed to ensure the availability of the physical copy of the petition before the next date of hearing. The matter was re-listed for further consideration on 24 August 2026.

For IA/793(AHM)2026, the application was filed by the Applicant/Resolution Professional to place on record the Third Periodic Report for the period from 3 February 2026 to 2 March 2026 regarding the Insolvency Resolution Process of Mrs. Komal Rakshit Patel. The tribunal accepted this report onto the record with all just exceptions and directed it to be placed with the main file for further reference.

For IA/794(AHM)2026, the application was filed by the Applicant/Resolution Professional to place on record the Fifth Periodic Report for the period from 3 April 2026 to 2 May 2026 regarding the Insolvency Resolution Process of Mrs. Komal Rakshit Patel. The tribunal similarly accepted this report onto the record with all just exceptions and directed it to be placed with the main file for further reference.

Final Outcome

IA/793(AHM)2026 and IA/794(AHM)2026 were disposed of after the respective periodic reports were accepted and placed on record. IA/1076(AHM)2026 remains pending with the next hearing scheduled for 24 August 2026, by which time the Resolution Professional must ensure the physical copy of the petition is available.

Topics: Insolvency Proceedings, Periodic Reporting, NCLT Directions