AI Structured Summary
Not yet generated for this judgment
Judgment
These two appeals are against an impugned order dated 14.05.2024 passed by the Ld. NCLT, Ahmedabad in CP No. 277(AHM)/2022 whereby the Ld. NCLT held the application under Section 95 of the IBC, 2016 was filed beyond limitation and was also defective since there was no invocation of guarantee notice.
Similar orders were passed in the case of nine other personal guarantors in Company Petition filed by State Bank of India against each of the individual personal guarantor(s) and nine of those such appeals viz. Company Appeals (AT) (Ins.) No. 865, 866, 868, 869, 870, 871, 872, 873 and 874 of 2024, all have since been decided by the Hon’ble Principal Bench of this Tribunal on 16.04.2026 wherein these appeals have been allowed and the impugned orders of rejecting the petition were all set aside.
The impugned order in the present two appeals are also similar in nature and as such it is submitted by Ld. Counsel for the Appellant these two appeals be also disposed of in terms of the order dated 16.04.2026 in the aforesaid nine appeals of other personal guarantors, similarly placed/situated.
The Ld. Counsel for the Respondent is also present and he admits of passing of the order dated 16.04.2026 in the aforesaid appeals, in exactly similar circumstances.
In view of the above and with the consent of the parties, we allow both these appeals by setting aside the impugned order and the company petition filed by the State Bank of India under Section 95 of the IBC, 2016 would stand revived before the Ld. NCLT for passing of fresh order(s) in accordance with law and in terms of the order dated 16.04.2026 passed by the Hon’ble Principal Bench of this Tribunal. These appeals are disposed of accordingly. Pending application(s) viz I.A. Nos. 4274 & 4275 of 2024, if any, in both these appeals are also disposed of.