Authority: National Company Law Tribunal, Division Bench-I, Chennai
Order Date: June 12, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard an application (IA(IBC)/941/CHE/2026) filed in the main petition CP(IB)/217/CHE/2021, where Central Bank of India is the petitioner against A Dominic Savio, who is a personal guarantor. The application specifically concerns a repayment plan proposed by the personal guarantor. The Resolution Professional (RP), Shri Chandrasekhar Sagutoor, appeared in person before the tribunal. The RP reported that the Committee of Creditors (CoC) had already approved the repayment plan with 80.26% voting share in favor. Notably, the personal guarantor has substantially improved the repayment offer, increasing it from the original amount of ₹80,00,000 (Eighty Lakh Rupees) to ₹1,94,00,000 (One Crore Ninety-Four Lakh Rupees). The RP further stated that the guarantor proposes to pay this enhanced amount within 14 days from the date the repayment plan receives final approval from the tribunal.
Final Outcome
The tribunal did not issue a final ruling on the repayment plan during this hearing. Instead, it listed the application for further consideration on June 22, 2026. The final approval of the plan is pending and will be decided on the next hearing date.
Topics: Insolvency Resolution, Personal Guarantor, Debt Repayment