Case Name: Multiple applications involving Indian Bank (erstwhile Allahabad Bank) vs. Personal Guarantors of Chinttpurni Engineering Works Pvt. Ltd.
Parties:
Financial Creditor: Indian Bank (erstwhile Allahabad Bank)
Respondents: Personal Guarantors including Raman Agarwal, Rajeev Agarwal, Rahul Agarwal, Anupama Agarwal, Raghav Garg, Rama Kant Tripathi, Rakesh Agarwal
Court/Authority: National Company Law Tribunal (NCLT), Allahabad Bench, Prayagraj
Case Numbers:
IA No.66/2025 in CP (IB) No.71/ALD/2024
IA No.67/2025 in CP (IB) No.72/ALD/2024
IA No.68/2025 in CP (IB) No.73/ALD/2024
IA No.69/2025 in CP (IB) No.74/ALD/2024
IA No.70/2025 in CP (IB) No.75/ALD/2024
IA No.71/2025 in CP (IB) No.76/ALD/2024
IA No.72/2025 in CP (IB) No.77/ALD/2024
Date of Order: 22nd May, 2026
Period of Violation/Dispute: Not specified in the order; the applications are under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), which pertains to initiation of insolvency resolution process for personal guarantors.
Parties Involved
Petitioner: Indian Bank (erstwhile Allahabad Bank), represented by counsels Sh. Sharad Kumar Shukla and Sh. Srijan Mehrotra, Advocates
Respondents: Personal Guarantors of Chinttpurni Engineering Works Pvt. Ltd., including:
Smt. Raman Agarwal
Rajeev Agarwal
Rahul Agarwal
Anupama Agarwal
Raghav Garg
Rama Kant Tripathi
Rakesh Agarwal
Represented by Sh. Aman Kumar Dwivedi, Advocate
Resolution Professional: Mr. Devnidhi Arya, present in person
Tribunal Members:
Shri Praveen Gupta, Hon'ble Member (Judicial)
Shri Ashish Verma, Hon'ble Member (Technical)
Stenographer: Kavya Prakash Srivastava
Issues / Allegations / Violations
The applications are filed under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), which involves initiation of insolvency resolution process against personal guarantors of corporate debtors.
The specific allegations or violations are not detailed in this adjournment order; the matter is at a preliminary stage, and the hearings are for considering the applications.
The corporate debtor is Chinttpurni Engineering Works Pvt. Ltd., and the personal guarantors are alleged to have provided guarantees for the company's debts.
Findings & Observations
No findings or observations were made in this order, as it is solely an adjournment. The tribunal did not delve into the merits of the case or any legal reasoning at this stage.
Penalties / Settlements / Directions
No penalties, settlements, or directions were issued in this order. The matter was adjourned without any substantive decisions.
Corrective Actions & Future Obligations
No corrective actions or future obligations were specified. The adjournment implies that the parties are to await the next hearing date.
Final Ruling & Enforcement
Final Ruling: The tribunal adjourned the hearing for all seven applications to 10th July, 2026, at 11:30 AM, as requested by the counsels representing the parties.
Enforcement: The order directs that a photocopy of this order be placed on record in all connected matters, ensuring consistency across the cases.
The adjournment indicates that the insolvency resolution process for personal guarantors is pending and will be taken up on the next date, with no immediate financial or operational impact disclosed.
