Authority: National Company Law Tribunal (NCLT), Allahabad Bench, Prayagraj
Order Date: 9th October, 2026
Case Overview
This hearing pertains to IA No.738/2026 filed within the main insolvency proceeding CP (IB) No.02/ALD/2023. The application was filed by the Bankruptcy Trustee (BT) under Section 95 of the Insolvency and Bankruptcy Code (IBC), which is in the process of Personal Insolvency Resolution (PIRP). The proceeding involves State Bank of India as the applicant versus Abhishek Kumar Singh, who is the Personal Guarantor for the corporate debtor, M/S Pawansut Earth Movers India Pvt. Ltd. The purpose of the application was for the Bankruptcy Trustee to place its preliminary report on the record of the proceedings.
Final Outcome
The NCLT bench, comprising Member (Judicial) Sh. Praveen Gupta and Member (Technical) Sh. Ashish Verma, disposed of the application (IA No.738/2026). The court accepted and took on record the preliminary report filed by the Bankruptcy Trustee, subject to just exceptions. The counsel for the Bankruptcy Trustee informed the bench that the process of identifying and ascertaining the assets of the Personal Guarantor is ongoing. The matter has been adjourned to the next date already fixed in the main matter, which is October 27, 2026.
Topics: Insolvency, Personal Guarantee, NCLT Proceeding