# In the matter of Pankaj Govindlal Khadloya

> NCLT judgment dated 2025-08-06. Citation: TCN-2025-NCLT-01255. The case involves an application related to the Insolvency Resolution Process against a…

- **Court:** NCLT
- **Order date:** 6 Aug 2025
- **Citation:** TCN-2025-NCLT-01255
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/pankaj-govindlal-khadloya-f0433af2

## Summary

### Background

The case involves an application related to the Insolvency Resolution Process against a Personal Guarantor, Mahesh Manilal Gandhi, with Small Industries Development Bank of India (SIDBI) as the creditor. The Resolution Professional sought condonation of delay in submitting the report under Section 106 of the Insolvency and Bankruptcy Code, 2016.

## Facts

An Interlocutory Application was filed by the Applicant/Resolution Professional of the Corporate Debtor for placing on record the Report prepared under Section 106 of the Insolvency and Bankruptcy Code, 2016.

The Insolvency Resolution Process against the Personal Guarantor commenced vide an Order dated 19.12.2024.

The Applicant received a claim of Rs. 6,17,48,934/- from Small Industries Development Bank of India (SIDBI).

After verification, the applicant admitted the claim amounting to Rs. 6,15,84,752/-.

The revised Repayment Plan submitted by the Personal Guarantor on 19.06.2025 is pending for consideration.

The Resolution Professional sought condonation of delay of 142 days in submitting the Report under Section 106.

…

## Issues and analysis

### Issue 1: Whether the delay of 142 days in submitting the report under Section 106 of the Insolvency and …

**Ratio:** The court has the discretion to condone

…

**Reasoning:** The court considered the reasons for the delay, including non-compliant submissions of

…

**Interpretation:** The court interpreted Section 106 of the Insolvency and Bankruptcy Code, 2016,

…

**Application:** The court applied its discretion to condone the delay of 142 days in submitting

…

## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** Small Industries…; Applicant/Resoluti…
- **Respondents:** Mahesh Manilal…
- **Other parties:** Small Industries…
- **Advocates:** Pink…

## Timeline

- **2024-12-19 — Commencement…**: The Insolvency Resolution Process…
- **2025-04-18 — Deadline for Report…**: The Resolution Professional was required to file the report on the meeting of creditors…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95(1) — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-mumbai/pankaj-govindlal-khadloya-f0433af2