Authority: National Company Law Tribunal, Ahmedabad Bench (Count-2)
Order Date: 06/07/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard restoration application Rest.Appli/1(AHM)2026 filed by Smartpaddle Technology Pvt Ltd (Applicant/Operational Creditor) in relation to insolvency petition C.P.(IB)/396(AHM)2025 against Vax Enterprise Pvt Ltd (Respondent). The original petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) was dismissed for non-prosecution on 25.11.2025 due to non-appearance of the applicant's representation on multiple hearing dates.
The applicant, through new counsel Mr. Bhash Mankad, sought restoration of the petition claiming compliance with a previous tribunal order by providing a No Objection Certificate (NOC) to the earlier advocate via additional affidavit. However, the tribunal noted critical procedural deficiencies: the applicant failed to provide proof of sending notice to either the respondent or the previous counsel, and crucially, lacked board resolution approval for the appointment of the new counsel. The tribunal observed that the applicant's board resolution from October 2025 had only approved the earlier counsel to represent them in the matter.
Final Outcome
The restoration application was dismissed as not maintainable due to the absence of proper board resolution approval for the new counsel appointment. The tribunal disposed of Rest.Appli/1(AHM)2026 with dismissal, upholding the original dismissal of the insolvency petition against Vax Enterprise Pvt Ltd.
Topics: Insolvency Proceedings, Corporate Litigation