Authority: National Company Law Tribunal Allahabad Bench Prayagraj
Order Date: 6th July 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench heard two interconnected matters involving Indian Bank (erstwhile Allahabad Bank) and personal guarantors of M/s Primuss Metroll Ltd. The first matter (IA No.332/2025 in CP (IB) No.126/ALD/2024) was filed by Indian Bank against Hira Lal Khatri as personal guarantor of the corporate debtor. The second matter (CP (IB) No.127/ALD/2024) was filed by Indian Bank against Atma Ram Khatri, also as personal guarantor of the same corporate entity. Both applications were filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, which pertains to initiation of insolvency resolution process against personal guarantors to corporate debtors.
Final Outcome
The NCLT Bench adjourned both matters and re-notified them for hearing on 7th August 2026. No substantive orders were passed on the merits of the cases during this hearing date.
Topics: Insolvency, Banking, NCLT Proceedings