Authority: National Company Law Tribunal, New Delhi Court-IV (Single Bench)
Order Date: 20th July 2026
Case Overview
This is an interim application (IA/1459/ND/2025) in the main insolvency petition (IB/562/ND/2024). The application was filed by IDBI Trusteeship Services Ltd. as the applicant against the respondent, Sachin Jain. The proceedings are under Section 95 of the Insolvency and Bankruptcy Code, 2016, which pertains to the initiation of an insolvency resolution process against a personal guarantor to a corporate debtor. The matter was heard in a hybrid mode (physical and video conference).
Final Outcome
The Hon'ble Member (Judicial), Shri Mahendra Khandelwal, passed a brief procedural order. The matter has been adjourned and is now listed for its next hearing on the 20th of August, 2026. Crucially, the order directs that the matter be heard before a Division Bench on the next date, indicating a potential change in the bench composition for further proceedings. No substantive decision on the merits of the application was rendered in this order.
Topics: NCLT, Personal Guarantor Insolvency