Authority: National Company Law Appellate Tribunal, Chennai (Justice N Seshasayee - Member (Judicial) and Jatindranath Swain - Member (Technical))
Order Date: 28 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard multiple connected appeals filed by nine members of the Bhatia family (Amandeep Singh Bhatia, Kulwant Singh Bhatia, Ishpal Kaur Bhatia, Gurvinder Singh Bhatia, Gurvinder Kaur Bhatia, Veena Bhatia, Manjeet Singh Bhatia, Surinder Singh Bhatia, and Inderjeet Singh Bhatia) against the Assistant General Manager of State Bank of India and another respondent. The appeals concern the liability of the appellants as personal guarantors despite an affidavit dated 12 February 2025. The State Bank of India, represented by counsel Mr. ML Ganesh, submitted that outstanding amounts remain payable and sought additional time to produce the complete statement of accounts to demonstrate the continuing liability.
Final Outcome
The Tribunal listed all connected appeals for the next hearing on 17 November 2026 at 12:00 pm. All existing interim orders granted by the Tribunal were directed to continue operating until the next date of listing, thereby maintaining any existing protection for the appellants.
Topics: Personal Guarantor Liability, Banking Litigation, Insolvency Proceedings