Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: July 16, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard an application under Section 94(1) of the Insolvency and Bankruptcy Code, 2016. The petition (CP(IBC)/103/CHE/2026) was filed by Suresh S Thiyagarajan as the petitioner against Bank of Maharashtra as the respondent. The matter involves insolvency proceedings against a personal guarantor. During the hearing, the Resolution Professional (Shri. Ananthachari Mahesh) appeared in person and reported that the personal guarantor had not reported to him, necessitating additional time to complete his assessment and file the required report with the tribunal.
Final Outcome
The NCLT bench comprising Member (Judicial) Shri. Sanjiv Jain and Member (Technical) Shri. Venkataraman Subramaniam granted the Resolution Professional time until July 20, 2026 to file his report. The matter has been adjourned and listed for next hearing on July 21, 2026. Copies of the order are to be served to all parties involved in the proceedings.
Topics: Personal Guarantor Insolvency, Banking Recovery, NCLT Proceedings