Two Company Appeals (AT) (Insolvency) were filed by Personal Guarantors of a Corporate Debtor, challenging separate orders passed by the Adjudicating Authority on 16.03.2026. These orders admitted Section 95 applications filed by IDBI Trusteeship Services Ltd. The core issues raised by the appellants concerned the validity of the authorization for IDBI Trusteeship Services Ltd. to initiate proceedings and the competence of its representative (Ms. Gauri Nimkar) to file the application, as well as a specific direction by the Adjudicating Authority for the Personal Guarantor to deposit Rs.2 Lakhs.
Two Company Appeals (AT) (Insolvency) No. 680 of 2026 and No. 670 of 2026 were filed by Kamlesh Keshavbhai Gondaliya and Parthil Kamleshbhai Gondaliya, identified as Personal Guarantors of a Corporate Debtor.
The appeals challenged separate orders passed on 16.03.2026 by the Adjudicating Authority, which admitted Section 95 applications filed by IDBI Trusteeship Services Ltd.
Prior to the admission of the Section 95 applications, a Resolution Professional (RP) was appointed and submitted a report.
The Personal Guarantors did not file any objection or reply to the Section 95 petition, but submitted written arguments.
The Adjudicating Authority, after hearing the parties, admitted the Section 95 applications on 16.03.2026.
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Irrevocable and personal guarantee deed…
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Two Company Appeals (AT) (Insolvency) were filed by Personal Guarantors of a Corporate Debtor, challenging separate orders passed by the Adjudicating Authority on 16.03.2026. These orders admitted Section 95 applications filed by IDBI Trusteeship Services Ltd. The core issues raised by the appellants concerned the validity of the authorization for IDBI Trusteeship Services Ltd. to initiate proceedings and the competence of its representative (Ms. Gauri Nimkar) to file the application, as well as a specific direction by the Adjudicating Authority for the Personal Guarantor to deposit Rs.2 Lakhs.
Two Company Appeals (AT) (Insolvency) No. 680 of 2026 and No. 670 of 2026 were filed by Kamlesh Keshavbhai Gondaliya and Parthil Kamleshbhai Gondaliya, identified as Personal Guarantors of a Corporate Debtor.
The appeals challenged separate orders passed on 16.03.2026 by the Adjudicating Authority, which admitted Section 95 applications filed by IDBI Trusteeship Services Ltd.
Prior to the admission of the Section 95 applications, a Resolution Professional (RP) was appointed and submitted a report.
The Personal Guarantors did not file any objection or reply to the Section 95 petition, but submitted written arguments.
The Adjudicating Authority, after hearing the parties, admitted the Section 95 applications on 16.03.2026.
…Irrevocable and personal guarantee deed…
A board resolution was passed, in pursuance of…