Authority: National Company Law Tribunal, New Delhi Bench (Court – II)
Order Date: June 12, 2026
Case Overview
This is an order from the National Company Law Tribunal (NCLT) concerning an application filed by Canara Bank against an individual named Vinay Gupta. The application was filed by the bank under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. This section pertains to the initiation of an insolvency resolution process against a personal guarantor to a corporate debtor. The hearing for this matter was conducted in a hybrid mode, combining both video conference (VC) and physical appearance.
Final Outcome
The bench, comprising Hon'ble Member (Judicial) Ashok Kumar Bhardwaj and Hon'ble Member (Technical) Atul Chaturvedi, did not proceed with a substantive hearing on the merits of the case. The order states "No time left" as the reason for adjournment. The matter was subsequently listed for the next hearing on July 29, 2026. No findings, observations, or directions on the underlying application were issued in this order.
This content may not be financially relevant as the order is purely procedural and does not contain any substantive decision, financial details, or outcome affecting the parties.