Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 13/07/2026
Case Overview
The matter involves proceedings under Section 10 of the Insolvency and Bankruptcy Code (IBC) concerning Vaman Textiles Pvt Ltd. The case was heard by a bench comprising Mr. Shammi Khan (Hon'ble Member Judicial) and Mr. Sanjeev Sharma (Hon'ble Member Technical). The applicant/liquidator was represented by advocates Mr. Jaimin Dave and Ms. Hirva Dave, while the Income Tax Department was represented by Ms. Kinjal Trivedi, Junior Penal Counsel.
The liquidator sought an adjournment on the grounds that the matter remains under consideration before the Competent Authority regarding the issuance of an assignment deed. This request for adjournment was made in two interconnected applications: IA(Dis.)/2(AHM)2025 and IA/725(AHM)2022, which are part of the main insolvency proceeding CP(IB) 309 of 2018.
Final Outcome
The NCLT bench granted the adjournment and relisted the matter for further consideration on 21 September 2026. The order indicates that the proceedings will remain pending until the Competent Authority resolves the assignment deed issue.
Topics: Insolvency Proceeding, NCLT Adjournment, Assignment Deed