Authority: National Company Law Tribunal, Jaipur Bench
Order Date: June 19, 2026
Case Overview
The National Company Law Tribunal (NCLT) Jaipur Bench heard matter CP No. (IB)-42/95(1)/JPR/2022 filed under Section 95(1) of the Insolvency and Bankruptcy Code (IBC). The application was filed by ASREC (India) Ltd. as the Financial Creditor against Yash Morani, who is the Personal Guarantor to the Corporate Debtor Shreeyam Morani Rise Pvt. Ltd. The proceedings were conducted through a web-based video conferencing platform. The bench comprised Hon'ble Ms. Reeta Kohli (Judicial Member) and Hon'ble Ms. Kavita Bhatnagar (Technical Member). Representatives for both parties were present: Advocates Akshat Kulshreshta for the Resolution Professional, Usha Singh for the Applicant, and Karan Pratap Singh, Nishant Sarraf, and Rishika Pareek for the Respondent.
Final Outcome
The Tribunal granted an adjournment based on a request made by the counsel for the Resolution Professional. The matter has been rescheduled and posted for hearing on July 10, 2026. No substantive decisions on the insolvency application were made in this order.
Topics: Insolvency Proceeding, Personal Guarantor, NCLT Adjournment