Authority: National Company Law Tribunal Allahabad Bench, Prayagraj
Order Date: 12th June, 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench heard two interconnected applications (IA No.645/2024 and IA No.315/2025) within the main insolvency petition CP (IB) No.44/ALD/2023. The matter involves Bank of Maharashtra as the financial creditor initiating proceedings against Rahul Kothari in his capacity as a personal guarantor for the corporate debtor M/s Rotomac Global Pvt. Ltd. The proceedings are being conducted under Section 95 of the Insolvency and Bankruptcy Code (IBC), which pertains to the initiation of the Personal Insolvency Resolution Process (PIRP) against personal guarantors.
Final Outcome
The bench, comprising Member (Judicial) Sh. Praveen Gupta and Member (Technical) Sh. Ashish Verma, noted that no counsel appeared for any of the parties during the hearing. In the interest of justice, the matter was adjourned to 30th June, 2026 for the next hearing. The order was signed by both members and directed that a photocopy be placed on record in both connected matters.
Topics: Insolvency Proceedings, Banking Litigation, NCLT Adjournment