Authority: National Company Law Tribunal (NCLT), Division Bench (Court–I), Chennai
Order Date: 16 July 2026
Case Overview
The National Company Law Tribunal (NCLT), Chennai heard an insolvency petition, CP(IBC)/104/CHE/2026, filed by an individual, Pavithra D, against the Bank of Maharashtra. The petition was filed under Section 94(1) of the Insolvency and Bankruptcy Code (IBC), 2016, which pertains to initiation of the insolvency resolution process for personal guarantors to corporate debtors. The Resolution Professional (RP) for the case, Shri Ananthachari Mahesh, was present at the hearing. He informed the bench that he required more time to file his report as the personal guarantor involved in the matter had not yet reported to him.
Final Outcome
The two-member bench, comprising Member (Judicial) Shri Sanjiv Jain and Member (Technical) Shri Venkataraman Subramaniam, granted the RP's request for an extension. The tribunal directed the Resolution Professional to file his report by 20 July 2026. A copy of the order is to be served to all involved parties. The petition has been adjourned and is next listed for hearing on 21 July 2026.
Topics: Insolvency Proceeding, Banking, NCLT