https://www.taxtmi.com/caselaws?id=429873 The court held that the NCLT is the appropriate forum for insolvency proceedings against the defendants as personal guarantors of Bhushan Steel. The interim moratorium under Section 96 of the IBC applies from the date of filing the insolvency application, staying the suits against both defendants. The court clarified that the interim moratorium for one guarantor does not extend to co-guarantors. Consequently, the proceedings in the present suits are stayed against both defendants, and relevant applications are disposed of. en-us Fri, 04 Nov 2022 00:00:00 +0530 Sun, 06 Nov 2022 18:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429873 The court held that the NCLT is the appropriate forum for insolvency proceedings against the defendants as personal guarantors of Bhushan Steel. The interim moratorium under Section 96 of the IBC applies from the date of filing the insolvency application, staying the suits against both defendants. The court clarified that the interim moratorium for one guarantor does not extend to co-guarantors. Consequently, the proceedings in the present suits are stayed against both defendants, and relevant applications are disposed of. Case-Laws Insolvency and Bankruptcy Fri, 04 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429873