Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: June 24, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) Principal Bench heard multiple connected appeals filed by personal guarantors of MAP Refoils India Limited against Central Bank of India. The appeals involve Company Appeal (AT) (Ins) Nos. 1062, 1063, 1064, and 1066 of 2026, along with corresponding interim applications. The appellants are Khushboo Mehulkumar Patel, Mehulkumar Arvindbhai Patel, and Arvindbhai Kacharabhai Patel, all identified as personal guarantors to MAP Refoils India Limited. The respondent in all cases is Central Bank of India. The matters pertain to insolvency proceedings concerning the personal guarantees provided for the corporate debtor.
Final Outcome
The NCLAT bench comprising Justice Mohd. Faiz Alam Khan (Member-Judicial) and Mr. Barun Mitra (Member-Technical) adjourned the matters to July 3, 2026, under the same caption. The adjournment was granted based on a request made by the appellants' Senior Counsel, Mr. Krishnendu Datta. The respondent was represented by Mr. Monaal Davawala, identified as the Liquidator. The order was passed in hybrid mode, indicating both physical and virtual hearing arrangements.
Topics: Insolvency Proceedings, Personal Guarantors, Banking Litigation