Authority: National Company Law Tribunal, Division Bench–I, Chennai
Order Date: 22 June 2026
Case Overview
The hearing concerned an application (IA(IBC)/941/CHE/2026) filed in the main petition CP(IB)/217/CHE/2021, which involves Central Bank of India as the petitioner and A Dominic Savio as the respondent. The matter pertains to insolvency proceedings where A Dominic Savio is acting as a Personal Guarantor. The specific application before the tribunal was for the approval of a repayment plan submitted by the Personal Guarantor. The Resolution Professional, Shri. Chandrasekhar Sagutoor, was present in person for the hearing conducted through video conferencing.
Final Outcome
The bench comprising Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri. Venkataraman Subramaniam (Member Technical) heard arguments from the parties regarding the repayment plan. After considering the submissions, the tribunal reserved its order. No immediate decision was pronounced, and the final ruling on the approval of the personal guarantor's repayment plan will be delivered at a later date.
Topics: Insolvency Proceedings, Personal Guarantor, Banking Debt