Authority: National Company Law Tribunal Allahabad Bench, Prayagraj
Order Date: 12th June, 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench heard an insolvency proceeding filed by Canara Bank against O N Goenka in his capacity as personal guarantor for M/s Premier Vinyl Flooring Ltd. The case was registered as CP (IB) No.24/ALD/2026 under Section 95(1) of the Insolvency and Bankruptcy Code (IBC). The bench comprised Hon'ble Member (Judicial) Sh. Praveen Gupta and Hon'ble Member (Technical) Sh. Ashish Verma. Counsel Sh. Saurabh Kushwaha appeared for the Financial Creditor (Canara Bank) while Sh. Adarsh Rai represented the Resolution Professional (RP).
During the hearing, the counsel for the Resolution Professional informed the bench that the RP's report had been filed and was currently under scrutiny by the tribunal. No other substantive arguments or evidence were presented during this hearing session.
Final Outcome
The NCLT bench adjourned the matter to 13th July, 2026 for further proceedings, pending completion of the scrutiny of the Resolution Professional's report. The order was signed by both members of the bench.
Topics: Insolvency Proceedings, Personal Guarantee, Banking