Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: 15 June 2026
Case Overview
The application was filed by MM Boutique Pvt Ltd (Applicant/Creditor) under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019. The application seeks initiation of the Insolvency Resolution Process against the Respondent, Bhavna Kirit Fifadra, who is a personal guarantor to a corporate debtor. The application was filed on 29 May 2026.
During the proceedings, the applicant's counsel, Mr. Shourya Kackar (appearing online), requested additional time to file two critical documents: the Vakalatnama (power of attorney) and the written consent of the Resolution Professional. The respondent was not represented in the hearing.
Final Outcome
The bench, comprising Hon'ble Shri Brajendra Mani Tripathi (Member Judicial) and Hon'ble Shri Man Mohan Gupta (Member Technical), granted the request for additional time and adjourned the matter. The case is now listed for the next hearing on 29 June 2026.
Topics: Insolvency Proceedings, Personal Guarantor, NCLT