Authority: National Company Law Tribunal Allahabad Bench Prayagraj
Order Date: 12th June, 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench, comprising Member (Judicial) Praveen Gupta and Member (Technical) Ashish Verma, heard two interconnected insolvency applications filed by Bank of India against personal guarantors of M/s Bhartiya Micro Credit.
Item No. 128 involved IA No.471/2025 in CP (IB) No.50/ALD/2023 against Vijay Pandey as personal guarantor. Item No. 129 involved IA No.470/2025 in CP (IB) No.51/ALD/2023 against Maya Pandey as personal guarantor. Both applications were filed under Section 95 of the Insolvency and Bankruptcy Code (IBC) and were part of a Personal Insolvency Resolution Process (PIRP).
During the hearing, Ms. Kaniska Patel appeared as proxy counsel for the Resolution Professional but sought an adjournment on two grounds: the learned arguing counsel representing the Resolution Professional was unavailable, and she had not filed a vakalatnama or memo of appearance to formally represent the case.
Final Outcome
The NCLT bench granted the adjournment and rescheduled both matters for hearing on 4th August, 2026. The proxy counsel was advised to appear at the next hearing after filing the proper vakalatnama or memo of appearance. The order was directed to be placed on record in both connected matters.
The practical consequence is a delay in the resolution of Bank of India's claims against the personal guarantors until the next hearing date in August 2026.
Topics: Insolvency Proceedings, Personal Guarantors, Banking Litigation