https://www.taxtmi.com/caselaws?id=398221 Proceedings under the Insolvency and Bankruptcy Code, 2016 against a personal guarantor may continue even while corporate insolvency resolution proceedings or resolution plans concerning the principal debtor are pending. Section 60(2) permits the personal guarantor's insolvency application to be filed before the same Adjudicating Authority where the corporate debtor's CIRP or liquidation is underway, and the guarantor's liability is not discharged merely because the principal debtor is in insolvency or liquidation. Once an application under section 95 is filed, section 97(3) requires the Authority to advance the process, including appointment of a resolution professional from an already shared panel without insisting on a fresh nomination. en-us Thu, 20 Aug 2020 00:00:00 +0530 Tue, 02 Nov 2021 17:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398221 Proceedings under the Insolvency and Bankruptcy Code, 2016 against a personal guarantor may continue even while corporate insolvency resolution proceedings or resolution plans concerning the principal debtor are pending. Section 60(2) permits the personal guarantor's insolvency application to be filed before the same Adjudicating Authority where the corporate debtor's CIRP or liquidation is underway, and the guarantor's liability is not discharged merely because the principal debtor is in insolvency or liquidation. Once an application under section 95 is filed, section 97(3) requires the Authority to advance the process, including appointment of a resolution professional from an already shared panel without insisting on a fresh nomination. Case-Laws Insolvency and Bankruptcy Thu, 20 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398221