Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 21 August 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) is hearing four connected appeals filed by personal guarantors to MAP Refoils India Ltd. against Central Bank of India. The appellants are Khushboo Mehulkumar Patel (CA (AT) (Ins) No. 1062 of 2026), Mehulkumar Arvindbhai Patel (CA (AT) (Ins) No. 1063 of 2026 and CA (AT) (Ins) No. 1066 of 2026), and Arvindbhai Kacharabhai Patel (CA (AT) (Ins) No. 1064 of 2026). All appellants are challenging proceedings initiated against them in their capacity as personal guarantors for the corporate debtor, MAP Refoils India Ltd. The respondent in all cases is Central Bank of India, the financial creditor.
Final Outcome
The NCLAT bench comprising Justice Mohammad Faiz Alam Khan (Member-Judicial) and Naresh Salecha (Member-Technical) granted the respondent bank's request for additional time to file their replies. The bank was granted exactly two weeks to file their replies with an advance copy to the appellants' counsel. The appellants were given one week thereafter to file their rejoinder, if they wish to do so. The tribunal listed the matter for the next hearing under the caption 'For Admission (After Notice)' on 28 September 2026.
Topics: Insolvency, Personal Guarantee, Banking