Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: 16 June 2026
Case Overview
This is a proceeding under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The applicant is the Small Industries Development Bank of India (SIDBI), acting through its Resolution Professional. The respondent is Mr. Manohar Choudhary, who is the personal guarantor for the corporate debtor, M/s Suman Phosphates & Chemicals Ltd. The matter was heard by a bench comprising Hon'ble Shri Brajendra Mani Tripathi (Member - Judicial) and Hon'ble Shri Man Mohan Gupta (Member - Technical).
The principal issue before the tribunal was a procedural default by the respondent. On the previous date of hearing, 10 April 2026, the respondent had sought and was granted time to file a formal reply (written statement) and a Vakalatnama (document authorizing legal representation). The applicant's counsel submitted that the respondent had failed to file either document by the date of this order.
Final Outcome
The tribunal closed the respondent's right to file a reply due to the failure to comply with the earlier direction. Subsequently, the respondent's counsel appeared after the board was completed and made a plea to keep the right to file a reply open. The tribunal found this submission untenable as the order had already been passed and the applicant's counsel was not present to counter the plea during this second round. The plea was rejected. The matter has been listed for the next hearing on 27 July 2026.
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