Sweet drink close by when holding court (6)
I believe the answer is:
nectar
'sweet drink' is the definition.
(I've seen this in another clue)
'close by when holding court' is the wordplay.
'close by' becomes 'near' (near means close by).
'when holding' is an insertion indicator.
'court' becomes 'ct' (abbreviation used in road names).
'near' going around 'ct' is 'NECTAR'.
(Other definitions for nectar that I've seen before include "Food of gods" , "Beverage of the gods" , "Sweet liquid of the gods" , "Sweet plant secretion" , "Honey ingredient" .)