Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: 16/06/2026
Case Overview
The Small Industries Development Bank of India (SIDBI), through Resolution Professional Rakesh Kumar Gupta, filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Motiram Choudhary, who is the personal guarantor for M/s Suman Phosphates & Chemicals Ltd. On the previous hearing date of 10 April 2026, the respondent (the personal guarantor) had sought time to file a reply and a Vakalatnama (power of attorney for his counsel). The applicant's counsel reported that neither document had been filed by the date of this order.
Final Outcome
The tribunal, comprising Member (Judicial) Shri Brajendra Mani Tripathi and Member (Technical) Shri Man Mohan Gupta, closed the respondent's right to file a reply. Subsequently, the respondent's counsel appeared and pleaded for this right to be kept open, but the tribunal found the submissions untenable as the order had already been passed and the applicant's counsel was not present to counter the plea during that later round. The matter was listed for the next hearing on 27 July 2026.
Topics: Insolvency, Personal Guarantee, NCLT