Authority: National Company Law Tribunal (NCLT), New Delhi Court – IV
Order Date: 10 July 2026
Case Overview
The matter involves an insolvency petition filed by Canara Bank (applicant) against Mr. Dharampal Garg (respondent). The petition was initiated under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, which pertains to applications by financial creditors for initiation of the insolvency resolution process against a personal guarantor to a corporate debtor.
The bench for the hearing consisted of Hon'ble Member (Judicial) Shri Mahendra Khandelwal and Hon'ble Member (Technical) Shri Atul Chaturvedi. The hearing was conducted in a hybrid mode (physical and video conference). Counsel for the applicant bank, Adv. Hitesh Sachar, Adv. Anju Jain, Adv. Bhawna Prajapati, and Adv. Rifat Touhid, were present. There is no record of representation for the respondent.
Final Outcome
The tribunal did not rule on the merits of the insolvency petition. Due to a paucity of time, the matter was adjourned. The next hearing is scheduled for 06 August 2026. The order was signed by Member (Technical) Shri Atul Chaturvedi.
Topics: Insolvency, Banking