Authority: National Company Law Tribunal, Allahabad Bench, Prayagraj
Order Date: 12th June, 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench heard three connected matters involving insolvency proceedings against personal guarantors of M/s Jyoti Envirotech Pvt. Ltd. initiated by Canara Bank as the financial creditor. The cases were:
- CP (IB) No.90/ALD/2024: Canara Bank vs. Param Preet Sahani (Personal Guarantor)
- IA No.229/2025 in CP (IB) No.91/ALD/2024: Canara Bank vs. Jyoti Sahani (Personal Guarantor)
- IA No.230/2025 in CP (IB) No.92/ALD/2024: Canara Bank vs. Charanjeet Singh (Personal Guarantor)
All applications were filed under Section 95(1) of the Insolvency and Bankruptcy Code (IBC). During the hearing, counsel for the financial creditor sought an adjournment but had not filed the required vakalatnama or memo of appearance, requesting time to file these documents by the next hearing date.
Final Outcome
The NCLT bench comprising Member (Judicial) Praveen Gupta and Member (Technical) Ashish Verma adjourned all three matters to 29th July, 2026. The order directed that a photocopy of this order be placed on record in all connected matters.
Topics: Insolvency Proceedings, Personal Guarantors, Banking Litigation