Authority: National Company Law Tribunal, Indore Bench Court No. 1
Order Date: 17/06/2026
Case Overview
The application has been filed by MM Boutique Pvt Ltd (Applicant/Creditor) under Section 95 of the Insolvency and Bankruptcy Code, 2016 against Vijay Pathak (Respondent/Personal Guarantor). The application seeks initiation of an Insolvency Resolution Process against the personal guarantor, filed specifically 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 was filed on 15.06.2026. 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).
Final Outcome
The Tribunal allowed the applicant's counsel (Mr. Shourya Kackar, appearing online) time 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 30.06.2026 for further proceedings. No final decision on the insolvency resolution process has been made at this stage.
Topics: Insolvency Proceedings, Personal Guarantor, NCLT