Guarantor spared insolvency due to resolved Corporate Debtor case. Petitioner free to pursue legal actions.

The Tribunal dismissed the application for insolvency resolution against the guarantor since there were no ongoing processes against the Corporate Debtor following the approval of the Resolution Plan. The petitioner was given the liberty to pursue suitable legal actions as per the law.

---

---

The Tribunal dismissed the application seeking initiation of insolvency resolution process against the guarantor as there was no pending CIRP or Liquidation process against the Corporate Debtor due to approval of the Resolution Plan. The petitioner was granted liberty to initiate appropriate proceedings in accordance with the law.

---