Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: June 12, 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench heard an insolvency petition filed by Punjab National Bank under Section 95 of the Insolvency and Bankruptcy Code, 2016. The petition is against Mr. L N Sharma, who is a personal guarantor for M/s. Saptarishi Hotels Pvt., Ltd. The matter involves proceedings related to the personal guarantor's insolvency resolution process.
Final Outcome
The Tribunal granted three weeks' time for the filing of counter submissions and objections to the Resolution Professional's report. Subsequently, any rejoinder must be filed within two weeks after that period. The matter has been adjourned to August 3, 2026, for further hearing.
Topics: Insolvency Proceedings, Personal Guarantor, Banking Debt