Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: July 6, 2026
Case Overview
The State Bank of India (Financial Creditor) filed proceedings under Section 121(1) of the Insolvency and Bankruptcy Code (IBC) against Paresh Dayalji Patel (Personal Guarantor/Respondent). The Financial Creditor filed an affidavit of service on July 6, 2026 (Inward No. 5544), disclosing that notice upon the Personal Guarantor was served through registered post on June 25, 2026 and through electronic mode on July 4, 2026. The affidavit did not specify any date on which service by hand was effected. As service through registered post was duly effected on June 25, 2026, the prescribed period of seven days for filing a reply had expired by the hearing date. No reply or objection was filed by the Personal Guarantor; only a Vakalatnama on behalf of the Personal Guarantor was filed on July 6, 2026.
Final Outcome
The Tribunal granted the Personal Guarantor a final opportunity to file a reply within a further period of seven days, subject to payment of costs of ₹10,000 (Rupees Ten Thousand only) to the Prime Minister National Relief Fund within this period. The Financial Creditor was permitted to file a rejoinder, if any, within seven days after the Personal Guarantor's reply period. The matter was listed for further consideration on July 24, 2026.
Topics: Personal Guarantor Insolvency, NCLT Proceedings, Banking Recovery