Authority: National Company Law Tribunal (NCLT), Indore Bench, Court No. 1
Order Date: 15 June 2026
Case Overview
The application, registered as CP(IB)/92(MP)2026, was filed by MM Boutique Pvt Ltd (Applicant/Creditor) under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). It was filed on 29 May 2026 under the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019. The application seeks to initiate an Insolvency Resolution Process against the Respondent, Arun Prabhudas Fifadra, who is a Personal Guarantor to a Corporate Debtor.
The matter was heard by a bench comprising Hon'ble Shri Brajendra Mani Tripathi (Member Judicial) and Hon'ble Shri Man Mohan Gupta (Member Technical). During the proceedings, the applicant was represented by Mr. Shourya Kackar, Advocate, who appeared online. There was no representation for the respondent.
The applicant's counsel sought an adjournment to file two critical documents: the Vakalatnama (a document authorizing the advocate to act for the client) and the written consent of the Resolution Professional.
Final Outcome
The bench granted the request for time and adjourned the matter. The case is now listed for the next hearing on 29 June 2026. No other directions were issued, and the application remains pending.
Topics: Insolvency, Personal Guarantor