Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 22 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) has listed two connected appeals for hearing on 26th November 2026. The appeals, numbered Company Appeal (AT) (Insolvency) No. 995 of 2026 and Company Appeal (AT) (Insolvency) No. 996 of 2026, were filed by appellants Kalpana Ashok Garg and Monicadevi Rajkumar Garg respectively against Standard Chartered Bank & Anr. as respondents. Both appellants were represented by Advocate Mr. Keith Varghese. The appeals challenge the order of the Learned Adjudicating Authority which had rejected the appellants' applications filed under Section 94 of the Insolvency & Bankruptcy Code, 2016. These applications sought initiation of the insolvency resolution process against the appellants in their capacity as personal guarantors.
Final Outcome
The NCLAT bench comprising Justice Yogesh Khanna (Officiating Chairperson) and Barun Mitra (Member - Technical) has listed both appeals for hearing on 26th November 2026. The tribunal has not made any substantive ruling on the merits of the case at this stage, having only scheduled the matter for future hearing.
Topics: Insolvency, Guarantor Liability