Authority: National Company Law Tribunal (NCLT), Indore Bench, Court No. 1
Order Date: 15 June 2026
Case Overview
The application, registered as CP(IB)/90(MP)2026, was filed by MM Boutique Pvt Ltd (Applicant/Creditor) under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). It seeks the initiation of an Insolvency Resolution Process against the Respondent, Kirit Prabhudas Fifadra, who is a Personal Guarantor to a Corporate Debtor. The application was filed on 29 May 2026, in accordance with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019. The bench comprised Hon'ble Shri Brajendra Mani Tripathi (Member Judicial) and Hon'ble Shri Man Mohan Gupta (Member Technical). During the hearing, the applicant was represented by Advocate Mr. Shourya Kackar, who appeared online. There was no representation for the respondent.
Final Outcome
The NCLT granted the applicant's counsel time to file the necessary Vakalatnama (a document authorizing the advocate to act) and the written consent of the Resolution Professional. The matter was adjourned and listed for the next hearing on 29 June 2026. No other orders were passed.
Topics: Insolvency, Personal Guarantor