Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 15.07.2026
Case Overview
This is an order in Company Appeal (AT) (Ins) No. 1106 of 2024. The Appellant is Subhas Kedarnath Tibrewal. The Respondents are Pawan Kumar Jagetia & Anr., with Bank of Baroda impleaded as Respondent No. 2 (Financial Creditor). The appeal arises from proceedings under Section 94 of the Insolvency and Bankruptcy Code, 2016 (IBC), which pertains to insolvency petitions filed by guarantors. The NCLAT had previously, vide order dated 19.01.2026, directed the impleadment of Bank of Baroda as a necessary party. The postal track report on record confirmed that the notice sent to the Bank of Baroda had been delivered. Despite this service, no one was present on behalf of the Bank at the hearing. The Tribunal took note of the record from the lower court (the Adjudicating Authority), which stated that on 13.12.2023, the Bank of Baroda was represented and had stated it had no objection to the admission of the Section 94 petition filed by the guarantor (the Appellant).
Final Outcome
The Tribunal expressed surprise at the Bank's non-appearance despite service. It directed that a copy of the order be sent to the Chairman/Managing Director of Bank of Baroda to inform them of the manner in which the litigation is being prosecuted by the Bank's officials. The Bank's top management was further directed to ensure that a responsible officer remains present before the Appellate Tribunal on the next date of hearing, which is scheduled for 31.07.2026.
Topics: NCLAT Procedure, Corporate Guarantor Insolvency, Lender Accountability