Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: 16 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Indore Bench heard an application filed by Small Industries Development Bank of India (SIDBI) under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Mr. Ravindra Choudhary, who is the personal guarantor of M/s Suman Phosphates & Chemicals Ltd. The proceedings concern the insolvency resolution of the personal guarantor.
On the previous hearing date of 10 April 2026, the respondent (Mr. Ravindra Choudhary) had sought time to file his reply and Vakalatnama (power of attorney). However, as of 16 June 2026, neither document had been filed with the tribunal. The applicant's counsel, Ms. Riddhi Vora, therefore prayed for closure of the respondent's right to file the reply.
After the bench concluded its proceedings and passed the order closing the respondent's right to file the reply, the respondent's counsel, Mr. Mayank Verma, appeared and made a plea to keep the right to file the reply open. The tribunal noted that this submission was made after the order had already been passed in the earlier round of hearing, and additionally, the applicant's counsel was not available during this second round to counter the respondent's plea.
Final Outcome
The NCLT Indore Bench, comprising Member (Judicial) Shri Brajendra Mani Tripathi and Member (Technical) Shri Man Mohan Gupta, ordered the closure of the respondent's right to file the reply in the matter. The tribunal rejected the respondent's belated plea to keep the reply filing right open, deeming it untenable. The matter has been adjourned and listed for the next hearing on 27 July 2026.
Topics: Insolvency Proceedings, Personal Guarantor, NCLT