Initiation of PIRP
The Hon’ble National Company Law Tribunal, Division Bench, Court 1, Ahmedabad, vide order dated 04 August 2026 passed in C.P. (IB) No. 80/NCLT/(AHM)/2026, titled UG Fincon Advisors LLP vs Mrs. Kanaklataben Thakkar, admitted the application filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 read with Rule 7(2).
The order initiated the Personal Insolvency Resolution Process under Section 100. The matter concerns Kanaklataben Thakkar as the guarantor and Dharmadev Infrastructure Limited as the principal debtor.
Process timeline
Mr. Khushvinder Singhal was appointed as Resolution Professional under Section 97 of the IBC.
Report submitted under Section 99 of the IBC, 2016.
Admission order passed under Section 100 of the IBC, 2016.
Public notice published in Financial Express English Edition and Financial Express Gujarati Ahmedabad Edition.
Last date for submission of claims as per the public notice.
Summary of particulars
Moratorium under Section 101
With admission of the application under Section 100, moratorium commenced in relation to all debts of Kanaklataben Thakkar. Pursuant to Section 101 of the Code:
No legal proceedings can continue or be initiated against the personal guarantor in respect of any debt.
The personal guarantor is barred from transferring, alienating, encumbering or disposing of assets.
The restriction also applies to legal rights and beneficial interest in assets.
Claims were invited from creditors within 21 days of issue of the public notice.
Contact the Resolution Professional
Mr. Khushvinder Singhal has been appointed as the Resolution Professional in this matter.
Resolution ProfessionalMr. Khushvinder Singhal
MatterUG Fincon Advisors LLP vs Mrs. Kanaklataben Thakkar
AuthorityNCLT Ahmedabad, Division Bench, Court 1
Case numberC.P. (IB) No. 80/NCLT/(AHM)/2026