Authority: National Company Law Tribunal, New Delhi Principal Bench
Order Date: 06.07.2026
Case Overview
The National Company Law Tribunal (NCLT) New Delhi Principal Bench heard matter IB-837(PB)/2024, which is an insolvency petition filed by YES Bank Limited against Mr. Rajesh Madan, who is identified as a personal guarantor. The petition was filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016. The specific application being processed is IA-575/2025. The hearing was conducted in hybrid mode (physical and video conference). Representation was present for all parties: Mr. Shivam Gautam, Advocate for the Resolution Professional; Ms. Neeha Nagpal and Mr. Nikunj Mahajan, Advocates for the Personal Guarantor (Mr. Rajesh Madan); and Mr. Anand Shankar Jha and Mr. Sachin Mintri, Advocates for the creditor, YES Bank Ltd. The bench was composed of Justice Anupinder Singh Grewal (Hon'ble President) and Shri Ravindra Chaturvedi (Hon'ble Member - Technical).
Final Outcome
The tribunal did not issue a substantive ruling on the merits of the case in this order. The final direction was to list the application (IA-575/2025) for the next hearing on 10.08.2026. The outcome is a procedural adjournment.
Topics: Insolvency Proceeding, Personal Guarantee, Banking