Authority: National Company Law Tribunal, Ahmedabad Division Bench Court-1
Order Date: 29/06/2026
Case Overview
The National Company Law Tribunal (NCLT) Ahmedabad bench handled two related matters: C.P.(IB)/192(AHM)2024 and IA/1446(AHM)2024. The proceedings are under Section 95 of the Insolvency and Bankruptcy Code, 2016, involving Small Industries Development Bank of India (SIDBI) as the applicant and Shri Kunal Patel as the respondent. The case involves insolvency proceedings against a personal guarantor.
The tribunal first issued a corrigendum order under Rule 154 of NCLT Rules, 2016 to rectify a clerical error in the original order. The error concerned the application number mentioned under the "Hybrid Mode" heading, which was incorrectly recorded as "IA/1447(AHM)2024" instead of the correct "IA/1446(AHM)2024".
In the substantive proceeding, the tribunal considered an application filed under Section 99 of the IBC, 2016. The bench directed the registry to issue notice to both the Personal Guarantor (Kunal Patel) and the Corporate Debtor. The applicant was instructed to collect the notice immediately and serve it upon the respondents through Registered Post/Speed Post/Dasti mode, as well as via email registered with the Ministry of Corporate Affairs.
Final Outcome
The tribunal corrected the typographical error in the application number through the corrigendum order. In the main proceeding, the respondents (Personal Guarantor and Corporate Debtor) were given two weeks from the date of receipt of notice to file their reply. The Interim Resolution Professional and Financial Creditor may file a rejoinder before the next hearing date. The applicant must file proof of service by way of affidavit before the next hearing. The matter has been listed for further consideration on July 29, 2026.
Topics: NCLT Proceedings, Insolvency, Personal Guarantee