# Aditya Birla Capital Limited vs. Mr. Rajiv Pasari

> NCLT judgment dated 2026-10-13. Citation: TCN-2026-NCLT-01234. An application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, by…

- **Court:** NCLT
- **Order date:** 13 Oct 2026
- **Citation:** TCN-2026-NCLT-01234
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/aditya-birla-capital-limited-vs-rajiv-pasari-86w3p

## Summary

### Background

An application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, by Aditya Birla Capital Limited (Financial Creditor/Applicant) seeking the appointment of a Resolution Professional under Section 97 of the IBC. The main Company Petition (IB) No. 153 of 2024 was initiated by Aditya Birla Finance Limited (later amalgamated into Aditya Birla Capital Limited) against Mr. Rajiv Pasari, who is the Personal Guarantor for Williamson Financial Services Limited (the Corporate Debtor). The Respondent challenged the maintainability of the petition.

## Facts

An application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 and 53 of the National Company Law Tribunal Rules, 2016.

The application seeks the appointment of a Resolution Professional under Section 97 of the Insolvency and Bankruptcy Code.

The main Company Petition (IB) No. 153 of 2024 was filed by Aditya Birla Finance Limited to initiate the Insolvency Resolution Process for Mr. Rajiv Pasari.

Mr. Rajiv Pasari acted as the Personal Guarantor for Williamson Financial Services Limited (the Corporate Debtor).

The Applicant prayed for the appointment of a Resolution Professional.

The Respondent challenged the maintainability of the Petition.

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## Issues and analysis

### Issue 1: Whether a Resolution Professional should be appointed under Section 97 of the IBC before deciding …

**Ratio:** The Tribunal, relying on precedents from the Supreme Court and NCLAT, held that the

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**Reasoning:** The applicant emphasized this procedural requirement, citing higher judicial

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**Interpretation:** Section 97 of the IBC establishes a mechanism for the Adjudicating Authority to

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**Application:** In this case, despite objections from the personal guarantor regarding

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## Parties

- **Judges:** BIDISHA BA…; Rekha Kantilal…
- **Appellants:** ADITYA BIRLA…
- **Respondents:** Williamson…; Rajiv P…
- **Other parties:** Kanchan…
- **Advocates:** Rohit…; Rahul A…; +4 more

## Timeline

- **2025-12-18 — Previous H…**: The matter was last taken up, but could not…
- **2026-09-09 — Hearing and O…**: Learned Advocate for the Personal Guarantor, Mr. Shaunak Mitra, strongly objected to the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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