NCLT Admits Canara Bank Personal Guarantor Progress Report

Authority: National Company Law Tribunal (NCLT), Division Bench–I, Chennai

Order Date: 30 June 2026

Case Overview

This order pertains to an application (IA(IBC)/1013(CHE)/2026) filed in the main insolvency petition CP(IB)/325(CHE)/2025. The matter involves A Sumathi as the personal guarantor and Canara Bank as the applicant. The application was filed by the Resolution Professional (RP) to submit a progress report for the period from 23 April 2026 to 22 May 2026 for the court's records.

Final Outcome

The bench, comprising Member (Judicial) Sanjiv Jain and Member (Technical) Venkataraman Subramaniam, admitted the progress report to the record. The counsel for the RP stated that a repayment plan from the personal guarantor was still awaited. The application was disposed of, and the registry was directed to correct the cause title of the case to incorporate the correct name of the personal guarantor.

Topics: Insolvency, Personal Guarantor, Banking