Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 09/10/2026
Case Overview
The National Company Law Tribunal (NCLT), Ahmedabad heard an application filed by Bank of Baroda (Applicant/Financial Creditor) against Mukesh Bhanwar Lal Bhandari, the Personal Guarantor of M/s Hans Ispat Limited (Respondent). The application was filed on 01.10.2026 under Section 95 of the Insolvency and Bankruptcy Code, 2016 read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. This proceeding seeks to initiate the insolvency resolution process against the personal guarantor to a corporate debtor.
During the hearing on 09.10.2026, a proxy counsel representing Bank of Baroda appeared and sought an adjournment of two weeks in the matter. The bench comprising Hon'ble Member (Judicial) Mr. Shammi Khan and Hon'ble Member (Technical) Mr. Sanjeev Sharma noted the request for adjournment.
Final Outcome
The NCLT adjourned the matter and relisted it for further consideration on 16.10.2026. The tribunal directed that a copy of the order be sent to Bank of Baroda for intimation regarding the long adjournment sought by their counsel. The tribunal further ordered that in case the advocate on record is not present on the next date of hearing, a concerned officer of Bank of Baroda must remain present for the hearing.
Topics: Insolvency Proceedings, Personal Guarantor Liability, Banking Litigation