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of <h1>NCLT Handles Insolvency of Corporate Persons and Guarantors Under Section 60 of IBC 2016; Defines Jurisdiction Limits.</h1> The National Company Law Tribunal (NCLT) serves as the adjudicating authority for insolvency resolution and liquidation of corporate persons, including corporate debtors and personal guarantors, as per Section 60 of the Insolvency and Bankruptcy Code (IBC) 2016. It has jurisdiction over cases where the registered office of the corporate person is located. Pending cases involving corporate guarantors or personal guarantors are transferred to the NCLT handling the corporate debtor's proceedings. The NCLT possesses powers similar to the Debt Recovery Tribunal and can entertain applications or claims related to insolvency proceedings. The period of moratorium is excluded from limitation periods. Various case laws outline the scope and limitations of the NCLT's jurisdiction, including its inability to adjudicate disputes under other laws or compel specific performance of resolution plans.
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