Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 14 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard four connected appeals filed by personal guarantors to corporate debtors UIC Corporation Pvt. Ltd. and API Industries Pvt. Ltd. The appellants include Bhushan Pankaj Valia (Personal Guarantor to UIC Corporation Pvt. Ltd. & Ors.), Ila Bharat Valia (Personal Guarantor to API Industries Pvt. Ltd.), Daksha Pankaj Valia (Personal Guarantor to UIC Corporation Pvt. Ltd. & Ors.), and Pankaj Harilal Valia (Personal Guarantor to UIC Corporation Pvt. Ltd. & Ors.). The sole respondent in all appeals is State Bank of India, represented by advocates Mr. Harshit Khare, Mr. Prafful Saini, and Mr. Ayuj Agrawal. The matters were heard in hybrid mode.
Final Outcome
The NCLAT bench comprising Justice Yogesh Khanna (The Officiating Chairperson) and Barun Mitra (Member Technical) adjourned all four appeals to 26th October, 2026 for further hearing. No substantive decisions on the merits of the cases were made in this order.
Topics: Personal Guarantor Proceedings, NCLAT Adjournment, Corporate Debt Guarantee