Authority: National Company Law Tribunal, Jaipur Bench
Order Date: June 19, 2026
Case Overview
The National Company Law Tribunal (NCLT) Jaipur Bench heard a petition filed by Ravi Kumar Goyal under Section 94 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner was acting as creditor against State Bank of India (SBI) in its capacity as personal guarantor to the corporate debtor M/s S.V.M. Oil Mills Pvt. Ltd.
This represents the second round of litigation between the parties. The petitioner had previously filed a petition under Section 94 which was dismissed on April 17, 2026, because the petitioner failed to establish they were personal guarantors and did not provide supporting documents. During the pendency of that earlier petition (filed on June 1, 2024), the petitioner enjoyed a prolonged interim moratorium.
In the current proceeding, the petitioner refiled with guarantee documents, seeking to establish their status as personal guarantor. The counsel for SBI vehemently opposed any adjournment, raising concerns about the misuse of the interim moratorium mechanism. The tribunal noted that the petitioner had already benefited from the interim moratorium during the previous proceedings and was now attempting to file a second petition to take further advantage of this provision.
Final Outcome
The NCLT dismissed the petition (CP No. (IB)-25/94/JPR/2026) based on the petitioner's conduct and the objections raised by the Financial Creditor (State Bank of India). The bench stated they were "left with no option but to dismiss the petition" given the circumstances. The case was disposed of with no relief granted to the petitioner.
Topics: Personal Guarantor, Insolvency Proceeding