Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 12.10.2026
Case Overview
The Small Industries Development Bank of India (SIDBI) filed this appeal (Comp. App. (AT) (Ins) No. 1746 of 2025) against an impugned order dated 17.03.2025 issued by the National Company Law Tribunal (NCLT). The NCLT had dismissed SIDBI's petition filed under Section 95 of the Insolvency and Bankruptcy Code (IBC) read with Rule 7(2) of the IBC (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantor to Corporate Debtor) Rules, 2019. The dismissal was solely on the ground that the notice for invocation of guarantee was never served upon the respondent, Ramilaben Ashwin Patel.
SIDBI's counsel submitted that they had proof on record for serving of the notice, which they claim was ignored by the NCLT. The notice of this appeal was delivered to the respondent on 13.04.2026, but no one appeared for the respondent during the proceedings.
Final Outcome
The NCLAT did not issue a final ruling on the appeal. The tribunal listed the matter for the next hearing on 14.12.2026 for further proceedings.
Topics: Insolvency, Guarantee Enforcement