Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 10/06/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad was hearing proceedings under Section 95 of the Insolvency and Bankruptcy Code, 2016. The case involves the Small Industries Development Bank Of India (SIDBI) as the applicant and Rakshit Ashwinbhai Patel as the respondent. Three interconnected applications were being heard: IA/842(AHM)2026, IA/795(AHM)2026, and IA/796(AHM)2026.
During the hearing, learned proxy counsel Ms. Shalini Rai appeared for the applicant SIDBI and requested an adjournment due to the non-availability of the advocate on record. The bench noted this request and the reason for seeking adjournment.
The bench comprised Hon'ble Member (Judicial) Mr. Shammi Khan and Hon'ble Member (Technical) Mr. Sanjeev Sharma. The proceedings were conducted in hybrid mode.
Final Outcome
The NCLT bench granted the adjournment request and relisted the matter for further consideration on July 15, 2026. No substantive rulings on the insolvency proceedings were made in this order, which dealt solely with the procedural matter of adjournment.
Topics: Insolvency Proceedings, NCLT Adjournment, Financial Institution