Authority: National Company Law Tribunal Allahabad Bench Prayagraj, Division Bench
Order Date: 9th June, 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench heard CP (IB) No.79/ALD/2024 filed under Section 95(1) of the Insolvency and Bankruptcy Code (IBC). The case involves Siemens Financial Services Private Limited as the Financial Creditor versus Rasik Khandelwal, who is the Personal Guarantor of Rasik Products Private Limited.
During the hearing, the counsel for the Personal Guarantor, Ms. Nandita, appeared without filing either a vakalatnama or memo of appearance and sought an adjournment on this procedural ground. The Tribunal did not grant the adjournment request based on these procedural deficiencies.
The Tribunal noted that reply/objections on behalf of the Personal Guarantor had already been filed, and both the counsel representing the Financial Creditor and the Resolution Professional (Sh. Amit Ojha, present in person) confirmed that there was no necessity to file any rejoinder to these objections.
Final Outcome
The matter has been adjourned for final hearing on 29th July, 2026. The Tribunal made it clear that no adjournment whatsoever would be granted to the Personal Guarantor on the ground of non-availability of any of the counsels on the next date of hearing.
Topics: Insolvency Proceeding, Personal Guarantor, Adjournment