Authority: National Company Law Tribunal (NCLT), Jaipur Bench
Order Date: June 19, 2026
Case Overview
This is an interim order in an ongoing insolvency proceeding. The application was filed by Canara Bank (the Financial Creditor/Applicant) under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The respondent is Mr. Milan Aggarwal, who is the personal guarantor (PG) for the corporate debtor, M/s Prayag Polytech Pvt. Ltd. The matter was listed for hearing on June 19, 2026.
Final Outcome
The bench, comprising Judicial Member Ms. Reeta Kohli and Technical Member Ms. Kavita Bhatnagar, adjourned the hearing. The adjournment was granted on the request of the proxy counsel representing the personal guarantor, who cited the non-availability of the arguing counsel. The matter has been rescheduled for the next hearing on July 31, 2026. No substantive decisions on the merits of the case were made in this order.
Topics: Insolvency Proceeding, Personal Guarantee, Banking