Authority: National Company Law Tribunal, Division Bench - Court II, Chennai
Order Date: June 16, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai Bench heard CP(IB)/6(CHE)2023, an insolvency petition filed by Small Industries Development Bank of India (SIDBI) against personal guarantor Anny Johnson under Section 95(1) of the Insolvency and Bankruptcy Code, 2016. The hearing was conducted via video conferencing with Hon'ble Member (Judicial) Shri. Jyoti Kumar Tripathi and Hon'ble Member (Technical) Shri. Ravichandran Ramasamy presiding.
During the proceedings, counsel for the personal guarantor stated that SIDBI had invoked SARFAESI proceedings and recovered ₹6.15 crore. The personal guarantor claimed that this recovered amount was "much above the OTS amount" (likely referring to a One-Time Settlement arrangement).
Final Outcome
The Tribunal directed SIDBI to file a memo detailing the updated status of dues within two weeks. The personal guarantor was directed to file a hard copy of their memo. The petition was adjourned and listed for next hearing on July 21, 2026.
Topics: Personal Guarantor Insolvency, SARFAESI Recovery