Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: June 22, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai Division Bench comprising Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical) heard matters related to State Bank of India's insolvency petition against personal guarantor D Prem. The main petition CP(IBC)/173/CHE/2022 was listed alongside two interlocutory applications IA(IBC)/885(CHE)/2026 and IA(IBC)/28(CHE)/2026.
Multiple parties were represented during the hearing: Ms. Thamilvani appeared as the Resolution Professional in person, Senior Counsel Mr. P.V. Balasubramaniam represented the Personal Guarantor (D Prem), Mr. Pawan Jhabakh represented Omkara ARC, and Mr. Vedhavel represented R5/Muthulakshmi (grandmother of the Personal Guarantor). Respondent R5 had e-filed a written synopsis, and the registry was directed to accept the hard copy.
Final Outcome
The Tribunal adjourned the hearing of the main petition and applications to July 17, 2026, specifying that it would be a physical hearing. The parties were granted permission to file written synopses. No substantive decisions on the merits of the case were made in this hearing order.
Topics: Insolvency Proceedings, Personal Guarantor, Banking Debt Recovery