Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi

Order Date: 14th September, 2026

Case Overview

The National Company Law Appellate Tribunal (NCLAT) heard four connected appeals filed by personal guarantors to corporate debtors. The appeals are:

  • Comp. App. (AT) (Ins) No. 1286 of 2025: Bhushan Pankaj Valia (Personal Guarantor to UIC Corporation Pvt. Ltd. & Ors.) versus State Bank of India & Ors.
  • Comp. App. (AT) (Ins) No. 1288 of 2025: Ila Bharat Valia (Personal Guarantor to API Industries Pvt. Ltd.) versus State Bank of India & Anr.
  • Comp. App. (AT) (Ins) No. 1289 of 2025: Daksha Pankaj Valia (Personal Guarantor to UIC Corporation Pvt. Ltd. & Ors.) versus State Bank of India & Ors.
  • Comp. App. (AT) (Ins) No. 1287 of 2025: Pankaj Harilal Valia (Personal Guarantor to UIC Corporation Pvt. Ltd. & Ors.) versus State Bank of India & Ors.

The appellants were represented by their legal counsel, while the respondent State Bank of India was represented by Mr. Harshit Khare, Mr. Prafful Saini, Mr. Ayuj Agrawal, and in one case additionally by Ms. Smriti Churiwal, Prapti Kedia, Jaiveer Kant, and Ankit Ujjwal.

Final Outcome

The bench comprising Justice Yogesh Khanna (The Officiating Chairperson) and Barun Mitra (Member Technical) adjourned all four matters and listed them for the next hearing on 26th October, 2026. The order was passed in hybrid mode.

Topics: Insolvency, Personal Guarantee, Banking Dispute