Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 16/06/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad heard proceedings under Section 95 of the Insolvency and Bankruptcy Code (IBC) in matter C.P.(IB)/199(AHM)2026. The application was filed by Canara Bank through its Manager and Authorised Signatory, Mr. Kishore Mane of the Stressed Asset Management Branch, against respondent Keshav Ashok Punj, who is identified as the guarantor of corporate debtor Ms PSL Limited. The bench comprised Hon'ble Member (Judicial) Mr. Shammi Khan and Hon'ble Member (Technical) Mr. Sanjeev Sharma. During the hybrid mode hearing, the applicant's proxy counsel Mr. Dhruvin Dosani (appearing for Mr. Vishwas K Shah) requested an adjournment based on a circulated leave note from the financial creditor (applicant).
Final Outcome
The NCLT granted the adjournment and relisted the case for further consideration on 06/07/2026. No substantive hearing on the merits of the insolvency application against the personal guarantor occurred during this proceeding.
Topics: Insolvency Proceedings, Banking Litigation, Guarantor Liability