# In the matter of ARDOR GLOBAL PRIVATE LIMITED

> NCLT judgment dated 2026-02-13. Citation: TCN-2026-NCLT-00175. The case involves an application (IA/1517(AHM)2024) for withdrawal of an application and…

- **Court:** NCLT
- **Order date:** 13 Feb 2026
- **Citation:** TCN-2026-NCLT-00175
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/ardor-global-private-limited-598a6753

## Summary

### Background

The case involves an application (IA/1517(AHM)2024) for withdrawal of an application and another application (IA/126(AHM)2026) seeking the replacement of the liquidator.

## Facts

Renish Petrochem FZF filed an application.

Ardor Global Pvt Ltd is the respondent.

IA/1517(AHM)2024 was filed, seeking permission to withdraw the application as the matter was settled.

IA/126(AHM)2026 was filed, seeking to replace the liquidator, Mr. Chandra Prakash Jain, due to his resignation.

The COC approved the appointment of Mr. Vikmash Gautamchand Jain as the new liquidator with 73.21% majority.

Mr. Vikash Gautamchand Jain has only 3 assignments and the CD has been under liquidation since 26.08.2019.

The court directed the SCC to pay the appropriate fees as per IBBI guidelines and complete all pending litigations.

## Issues and analysis

### Issue 1: Whether the applicant should be granted …

**Ratio:** Permission is granted when the matter is

…

**Reasoning:** The arguing counsel confirmed that the matter was settled, and a withdrawal affidavit was

…

**Interpretation:** The court interprets the settlement

…

**Application:** The court applied the principle of allowing withdrawal when a settlement is

…

## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Renish Petrochem…
- **Respondents:** Ardor Global Pvt.…
- **Other parties:** Vikmash Gautamchan…; Chandra Prakash…
- **Advocates:** Rahul Bha…; Nipun Si…; +2 more

## Timeline

- **2026-02-13 — Order deliv…**: Order delivered on 13/02/2026 regarding withdrawal of IA/1517(AHM)2024 and replacement of…
- **2025-10-07 — SCC Meet…**: SCC meeting dated 7.10.2025 discussed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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