Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 24 July 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard four connected appeals (Comp. App. (AT) (Ins) No. 1062, 1063, 1064, and 1066 of 2026) along with their respective interim applications. The appeals were filed by three personal guarantors to MAP Refoils India Limited: Khushboo Mehulkumar Patel, Mehulkumar Arvindbhai Patel, and Arvindbhai Kacharabhai Patel. The respondent in all appeals is Central Bank of India, the financial creditor. The proceedings appear to challenge actions taken against the appellants in their capacity as personal guarantors for the corporate debtor, MAP Refoils India Limited.
During the hearing, the Learned Counsel for the respondent (Central Bank of India) submitted that they had received copies of the appeals only the previous night and requested reasonable time to file their reply. The tribunal noted this submission and considered the request for adjournment.
Final Outcome
The NCLAT granted the respondent two weeks time to file their reply. The respondent is required to provide copies of their reply to the appellants. The appellants are granted one week thereafter to file their rejoinder, if they wish to do so. The matter has been listed for next hearing on 21 August 2026. The order was passed by a bench comprising Justice Mohammad Faiz Alam Khan (Member-Judicial) and Mr. Naresh Salecha (Member-Technical).
Topics: Insolvency Proceedings, Personal Guarantor Liability, Banking Litigation