Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 08.10.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard two connected appeals: Comp. App. (AT) (Ins) No. 1804 of 2026 filed by Sangeeta Aggarwal (Personal Guarantor) and Comp. App. (AT) (Ins) No. 1805 of 2026 filed by Sri Narain Aggarwal (Personal Guarantor). Both appellants were appealing against Equentia Financial Services Pvt. Ltd. & Anr. (Respondents). The proceedings were conducted in hybrid mode. Counsel for all parties agreed that the issues in both appeals were trivial and similar, and could be disposed of without providing an opportunity for the Respondents to file a formal reply. However, after concluding oral arguments, the Tribunal allowed for written submissions to be filed, which would be treated as the Respondents' reply.
Final Outcome
The NCLAT reserved its judgment after hearing arguments from all parties. Counsel for the parties were given seven days from the order date (08.10.2026) to file written submissions limited to 3-4 pages along with relevant citations indicating specific paragraphs. The bench comprised Justice Mohammad Faiz Alam Khan (Member - Judicial) and Ajai Das Mehrotra (Member - Technical).
Topics: Insolvency Proceedings, Personal Guarantor Liability