NCLT Accepts Central Bank Guarantor Progress Report

Authority: National Company Law Tribunal (NCLT), Division Bench (Court–I), Chennai

Order Date: 16 July 2026

Case Overview

This matter concerns the bankruptcy process of Personal Guarantor Sophia James Walter, initiated by Central Bank of India under petition number C.P. (IB)/167(CHE)2025. The hearing addressed Interlocutory Application (IA) number IA(I.B.C)/1190(CHE)2026, filed to submit the third progress report for the quarter ended 30 June 2026. The Bankruptcy Trustee, Shri. Chandrasekhar Sagutoor, appeared personally via video conferencing and presented the report to the bench comprising Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri. Venkataraman Subramaniam (Member Technical).

Final Outcome

The NCLT accepted the third progress report and disposed of the application. The key factual update from the Trustee's report is that assets recovered in the bankruptcy process of the personal guarantor amount to ₹33.75 lakhs to date. The order was formally signed by both members of the bench.

Topics: NCLT, Bankruptcy, Personal Guarantor