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        Case ID :
        Insolvency and Bankruptcy

        Maintainability of petition seeking initiation of CIRP against...

        Tribunal Upholds Guarantees, Validates Demand Notice, Dismisses Petition for Late Filing, Confirms IBC Sections' Validity.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Maintainability of petition seeking initiation of CIRP against Personal Guarantor/Respondent - invocation of Bank guarantee and time limitation - The case involved an application u/s 95 of the IBC by a Financial Creditor against a Personal Guarantor for recovery of outstanding debt. The Tribunal examined the validity of guarantees, notice of demand, limitation period, and the effect of CIRP against the Principal Borrower. It upheld the validity of guarantees, affirmed the notice of demand, and ruled the Company Petition as rejected due to being filed beyond the limitation period. The Tribunal also confirmed the constitutional validity of relevant IBC sections.
                                Note: It is a system-generated summary and is for quick reference only.
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