IN THE HIGH COURT AT CALCUTTA

(Constitutional Writ Jurisdiction)

APPELLATE SIDE

Present:

The Hon’ble Justice Krishna Rao

W.P.A. No. 27091 of 2025

Sanjay Jhunjhunwala & Ors.

Versus

Piramal Finance Limited & Ors.

Mr. Gopal Jain, Sr. Adv.

Mr. Ratnanko Banerjee, Sr. Adv.

Mr. Sankarsan Sarkar

Mr. Aditya Kanodia

Ms. Suparna Sardar

.....For the petitioners.

Mr. Tilak Kumar Bose, Sr. Adv. Mr. Krishnaraj Thaker, Sr. Adv.

Mr. Somdutta Bhattacharyya

Ms. Kiran Sharma Mr. Sagnik Aditya

.....For the respondents no. 1 & 2.

Hearing Concluded On : 01.12.2025 Judgment on : 03.12.2025

Krishna Rao, J.:

1. The petitioners are guarantors who have provided personal guarantees securing the Credit Facilities availed by the respondent no.3. The respondent no.1 is a non-banking financial company engaged in the businesses of lending monies to individuals, micro entrepreneurs and business across India. The respondent no.2 is the Security Trustee appointed by the respondent no.1 to hold security documents on behalf of the respondent no.1.

2. The grievances of the petitioners in the writ petition arises from the invocation of the jurisdiction of the Learned National Company Law Tribunal under Section 95 of the Insolvency and Bankrupt