Authority: National Company Law Tribunal, Ahmedabad Bench (Count-2)
Order Date: 10/07/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad bench heard proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC) in case number C.P.(IB)/188(AHM)2026. The matter involves Sheth Fincap Services Private Limited as the applicant (financial creditor) versus Takshashila Corporation LLP as the respondent (corporate debtor). The bench was composed of Hon'ble Member (Judicial) Mrs. Chitra Hankare and Hon'ble Member (Technical) Dr. Velamur G Venkata Chalapathy.
During the hearing, the respondent's counsel, Mr. Arjun Sheth, appeared and requested time to file the vakalatnama (power of attorney) on the same day. He further sought additional time to file a formal reply to the insolvency application. The applicant was represented by proxy counsel Mr. Vedant Dave, appearing for Mr. Nipun Singhvi. No resolution professional was present at the hearing.
Final Outcome
The NCLT bench directed the respondent to file their reply within one week from the order date (10/07/2026) and serve a copy of the same to the applicant side. The case has been adjourned and listed for further consideration on 04 August 2026. No substantive decision on the insolvency petition was made during this hearing.
Topics: Insolvency Proceedings, NCLT Hearing, Corporate Debtor