Authority: National Company Law Tribunal (NCLT) Indore Bench Court No. 1
Order Date: 15/06/2026
Case Overview
The National Company Law Tribunal (NCLT) Indore Bench heard an application filed by MM Boutique Pvt Ltd (Applicant/Creditor) under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application was filed on 29 May 2026 under 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 an Insolvency Resolution Process against the Respondent, Manoj 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). The applicant was represented by Mr. Shourya Kackar, Advocate (appearing online), while the respondent was not represented in the proceedings.
Final Outcome
The NCLT admitted the application and granted time to the applicant's counsel to file the Vakalatnama (power of attorney) and the written consent of the Resolution Professional. The matter has been listed for the next hearing on 29 June 2026 for further proceedings in the case. The insolvency resolution process against the personal guarantor remains pending before the tribunal.
Topics: Insolvency Proceedings, Personal Guarantor, NCLT