NCLT Orders Transfer of SBI Guarantor Insolvency Case

State Bank of India filed an application to transfer an insolvency petition against a personal guarantor from NCLT Mumbai Bench V to Bench I.
The transfer was sought as a related petition against the guarantor's spouse is already at an advanced stage before Bench I with a resolution professional appointed.
Both guarantors are jointly liable under a 2015 guarantee deed for corporate debtor Varun Resources Ltd, with declared net worth of ₹6.09 crore.
NCLT allowed the transfer to ensure judicial consistency as both cases arise from identical cause of action against married co-guarantors.