Ahmedabad: Gujarat High Court has declined to intervene in the ongoing insolvency proceedings instituted by Sheth Fincap Services Pvt Ltd against Takshashila Developers Pvt Ltd and others before the National Company Law Tribunal.Justice Nisha Thakore dismissed Takshashila’s petition challenging the NCLT’s decision to reserve several matters for orders, noting that the company had already availed itself of the statutory appellate remedy under the Insolvency and Bankruptcy Code, 2016. The developer had also challenged the NCLT’s Sept 25 order admitting Section 7 petitions, initiating the corporate insolvency resolution process and appointing an interim resolution professional.The dispute stems from a loan agreement dated March 15,…
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