Authority: National Company Law Tribunal Guwahati Bench
Order Date: 30th June 2026
Case Overview
The National Company Law Tribunal (NCLT) Guwahati Bench heard an application (IA(IBC)/5/GB/2026) in the main petition CP(IB)/3/GB/2025 filed by UCO Bank, Rehabari Branch under Section 95 of the Insolvency and Bankruptcy Code, 2016. The proceedings involve UCO Bank as the petitioner versus Jitesh Jalan (Personal Guarantor) to M/s Feather and Flute Fintrade Private Limited (Corporate Debtor).
During the hearing, the personal guarantor, Jitesh Jalan, through his counsel, submitted that he has presented a repayment plan to the Resolution Professional. The Resolution Professional, Mr. Bishal Agarwal, confirmed receipt of the plan and stated that it is currently under examination, with his report in preparation.
Final Outcome
The NCLT Bench, comprising Hon'ble Member (Judicial) Shri Rammurti Kushawaha and Hon'ble Member (Technical) Shri Yogendra Kumar Singh, granted the Resolution Professional's request for additional time to complete the examination of the repayment plan. The matter has been adjourned and listed for further consideration on 23rd July 2026.
Topics: Insolvency Proceeding, Personal Guarantor, Repayment Plan