# In the matter of Ujwal Gupta vs. Union Bank of India and Anr.

> NCLAT judgment dated 2026-01-07. Citation: TCN-2026-NCLAT-00007. The appeal was filed by the Appellant (Personal Guarantor) under Section 61 of the Insolvency…

- **Court:** NCLAT
- **Order date:** 7 Jan 2026
- **Citation:** TCN-2026-NCLAT-00007
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ujwal-gupta-vs-union-bank-of-india-and-anr-b7f0bcaf

## Summary

### Background

The appeal was filed by the Appellant (Personal Guarantor) under Section 61 of the Insolvency and Bankruptcy Code, 2016, challenging the order dated 10.09.2024 passed by the NCLT, New Delhi, Bench –III (Adjudicating Authority), which admitted CP (IB) No. 26 of 2024 filed by the Union Bank of India (Financial Creditor) under Section 95 of the Code and initiated personal insolvency against the Appellant/Personal Guarantor.

## Facts

The Appellant, Ujwal Gupta, is a personal guarantor for credit facilities availed by M/s Green World International Pvt. Ltd. from Union Bank of India.

A deed of guarantee was executed by the Appellant on 01.03.2013 in favor of Union Bank of India.

The loan account of M/s Green World International Pvt. Ltd. was classified as Non-Performing Asset (NPA) on 30.01.2016.

Union Bank of India issued a notice under Section 13(2) of the SARFAESI Act on 29.02.2016 to M/s Green World International Pvt. Ltd. and its guarantors, including the Appellant.

Union Bank of India filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, to initiate personal insolvency against the Appellant.

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## Issues and analysis

### Issue 1: Whether the notice dated 29.02.2016 issued under Section 13(2) of the SARFAESI Act, 2002, which was …

**Ratio:** The liability of the guarantor has to be read from the Deed of Guarantee. The terms of

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**Reasoning:** The Tribunal relied on several precedents, including Asha Basantilal Surana Vs. State

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**Interpretation:** The Tribunal interpreted the guarantee deed and the notice under Section 13(2)

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**Application:** The Tribunal applied the principles established in the precedents to the facts

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## Parties

- **Judges:** Mohd. Faiz Alam…; Naresh Sa…
- **Appellants:** Ujwal G…
- **Respondents:** M/s Green World…; Union Bank of…; +1 more
- **Other parties:** M/s CFM Asset…
- **Advocates:** Palash S. S…; Sonam S…; +5 more

## Timeline

- **19.02.2013 — Sanction Lett…**: Sanction letter for the…
- **01.03.2013 — Deed of Gua…**: A deed of guarantee was executed by…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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