Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: July 10, 2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard Company Petition No. C.P.(IB)/193(AHM)2026. The petition was filed by SVC Co-Operative Bank Ltd (formerly known as Shamrao Vithal Cooperative Bank Ltd) as a Financial Creditor under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The respondent in the matter is Labhuben M Parmar, who is the Personal Guarantor (PG) of M/s Sahar Industries LLP. The petition was listed for hearing alongside an Interim Application (IA) filed by the Resolution Professional (RP). Representatives for both the Applicant/Financial Creditor and the Resolution Professional were present at the hearing.
Final Outcome
The bench, comprising Member (Judicial) Shammi Khan and Member (Technical) Sanjeev Sharma, did not make a substantive ruling on the petition. The sole directive was to adjourn the proceedings. The main company petition and the accompanying IA are now re-listed for further consideration on July 24, 2026.
Topics: Insolvency Proceeding, Corporate Debt, NCLT