https://www.taxtmi.com/caselaws?id=425215 The National Company Law Tribunal, Principal Bench, New Delhi, admitted an application for the Insolvency Resolution Process against a Personal Guarantor to a Corporate Debtor. The Tribunal appointed a Resolution Professional to manage the process, following State Bank of India's submission of the Guarantor's default in repayment and satisfaction of statutory requirements. Despite objections raised by the Guarantor, including lack of contract privity and discrepancies in debt amount claimed, the Tribunal declared a moratorium, directed the Resolution Professional to prepare a repayment plan, and called for creditors to register claims within a specified timeline. en-us Tue, 05 Jul 2022 00:00:00 +0530 Tue, 19 Jul 2022 09:21:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425215 The National Company Law Tribunal, Principal Bench, New Delhi, admitted an application for the Insolvency Resolution Process against a Personal Guarantor to a Corporate Debtor. The Tribunal appointed a Resolution Professional to manage the process, following State Bank of India's submission of the Guarantor's default in repayment and satisfaction of statutory requirements. Despite objections raised by the Guarantor, including lack of contract privity and discrepancies in debt amount claimed, the Tribunal declared a moratorium, directed the Resolution Professional to prepare a repayment plan, and called for creditors to register claims within a specified timeline. Case-Laws Insolvency and Bankruptcy Tue, 05 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425215