Central Bank of India Personal Guarantor Bankruptcy Update

Authority: National Company Law Tribunal, Division Bench (Court–I), Chennai

Order Date: 16 July 2026

Case Overview

This hearing concerned an application (IA(I.B.C)/1193(CHE)2026) filed in the main petition C.P. (IB)/231(CHE)2025, titled Central Bank of India Vs Banu Ramesh. The application was filed by the Bankruptcy Trustee, Shri. Chandrasekhar Sagutoor, to formally place on record the 3rd Progress Report for the quarter ended 30 June 2026. This report pertains to the ongoing bankruptcy process of a Personal Guarantor. The Trustee reported that a property jointly owned by a husband and wife had been auctioned by a secured creditor, resulting in a partial payment being realized.

Final Outcome

The Tribunal accepted the 3rd Progress Report onto the record, subject to all just exceptions. The Interlocutory Application (IA) was disposed of.

Topics: Bankruptcy, NCLT Proceeding