Authority: National Company Law Tribunal, Division Bench (Court-I) Chennai
Order Date: 15 June 2026
Case Overview
The matter involves Tata Capital Ltd (Financial Creditor) filing an insolvency petition (CP(IB)/341(CHE)/2025) against personal guarantors Swathi Sharma and Gopal Sharma. The hearing was conducted through video conference before a bench consisting of Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical). The Interim Resolution Professional (IRP) has already filed a report recommending the initiation of insolvency proceedings against the personal guarantors. The financial creditor filed an affidavit confirming that copies of the petition were served on the personal guarantors. Despite proper service and time given, the personal guarantors were not present at the hearing.
Final Outcome
The Tribunal adjourned the petition and application (IA(IBC)/433(CHE)2026) to 14 July 2026 for further hearing. No final decision on the insolvency proceedings was made during this hearing.
Topics: Insolvency Proceedings, Personal Guarantee, NCLT Hearing