Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 15 July 2026
Case Overview
This is an appeal (Comp. App. (AT) (Ins) No. 1106 of 2024) filed by Subhas Kedarnath Tibrewal (Appellant) against Pawan Kumar Jagetia & Anr. (Respondents). The appeal arises from proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC), specifically concerning a petition filed by the Appellant (a guarantor) under Section 94 of the Code. The National Company Law Appellate Tribunal (NCLAT) had previously, via an order dated 19 January 2026, directed the impleadment of Bank of Baroda, the Financial Creditor, as Respondent No. 2 in this appeal. The tribunal notes that the postal track report confirms successful service of notice to the newly impleaded Bank of Baroda. Despite this service, no representative from Bank of Baroda was present before the tribunal on the hearing date. The NCLAT referred to the impugned judgment from the Adjudicating Authority (NCLT), which recorded in paragraph 4 that on 13 December 2023, Bank of Baroda was represented and had stated it had no objection to the admission of the insolvency petition filed by the guarantor (the Appellant).
Final Outcome
The NCLAT has directed that a copy of its order be sent to the Chairman/Managing Director of Bank of Baroda. The bank's management is to be informed of the manner in which this litigation (lis) is being prosecuted by its officials and is further directed to ensure that a responsible officer of the bank remains present before the Appellate Tribunal on the next date of hearing. The matter has been adjourned and listed for the next hearing on 31 July 2026.
Topics: Insolvency Proceedings, Guarantor Rights