Authority: National Company Law Tribunal (NCLT), Indore Bench, Court No. 1
Order Date: 14 July 2026
Case Overview
This proceeding, registered as C.P.(IB)/53(MP)2021, is an application filed by State Bank of India (Applicant) under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Shri Bernard John (Respondent), who is a personal guarantor. 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).
A significant development in the case was reported during the hearing. The learned counsel for the Respondent (Ms. Aarya Chhangani), representing the personal guarantor, submitted that a Civil Appeal filed before the Hon'ble Supreme Court of India had been dismissed. This appeal was dismissed on 15 May 2026. The order of dismissal was presented to the tribunal via screen sharing during the online hearing.
Following this submission, learned counsel for both parties (Mr. Mandeep Singh Saluja for the Applicant and Ms. Aarya Chhangani for the Respondent) jointly requested that the matter be listed for final arguments.
Final Outcome
The NCLT bench directed both parties to file their written submissions. The matter has been listed for the next hearing for final arguments on 7 August 2026. The dismissal of the Supreme Court appeal appears to have cleared the way for the NCLT to proceed towards a final resolution of the insolvency proceeding against the personal guarantor.
Topics: Insolvency Proceeding, Personal Guarantor, Banking Debt