Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: 10 August 2026
Case Overview
This order pertains to five interconnected Company Appeals filed by Canbank Factors Ltd (Appellant). The appeals are filed against M/s. Vensa Laboratories Pvt Ltd (Corporate Debtor) and four individuals who are Personal Guarantors of the corporate debtor: J Krishna Rao, K Hanumantha Rao, D Rama Linga Raju, and V Nageswara Rao (Respondents). The specific appeal numbers are Company Appeal (AT) (CH) (Ins) No.636/2025, 637/2025, 638/2025, 639/2025, and 640/2025. The matter was heard in hybrid mode. The appellant was represented by Advocate Mr. V. Arvind Rajagopal.
The Tribunal noted that among the five appeals, notice had been served on the respondent only in Company Appeal (AT) (CH) (Ins) No.638/2025 (filed against M/s. Vensa Laboratories Pvt Ltd) on 6th May 2026. Despite service, no one appeared for the respondent in this appeal. In the other four appeals filed against the personal guarantors, the appellant was required to take steps for issuing fresh notice.
Final Outcome
The NCLAT directed the Appellant (Canbank Factors Ltd) to take fresh notice by all modes of service except substituted service on the respondents in the four appeals concerning the personal guarantors (Appeal Nos. 636, 637, 639, and 640 of 2025). The matter was adjourned and listed for the next hearing on 8th October 2026.
Topics: Insolvency Proceedings, Personal Guarantors, Procedural Order