https://www.taxtmi.com/caselaws?id=432506 A notice under section 13(2) of the SARFAESI Act, issued for enforcement of security interest against mortgaged property, did not amount to invocation of the appellant's personal guarantee because the creditor took no independent steps to proceed against the guarantor for recovery. The materials before the Tribunal did not establish invocation of the guarantee itself, and the Resolution Professional's report also noted that no later notice was issued to the personal guarantor, with limitation considerations mentioned. On that basis, the application under section 94 of the Insolvency and Bankruptcy Code, 2016 was not admissible. en-us Thu, 05 Jan 2023 00:00:00 +0530 Sat, 07 Jan 2023 08:48:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432506 A notice under section 13(2) of the SARFAESI Act, issued for enforcement of security interest against mortgaged property, did not amount to invocation of the appellant's personal guarantee because the creditor took no independent steps to proceed against the guarantor for recovery. The materials before the Tribunal did not establish invocation of the guarantee itself, and the Resolution Professional's report also noted that no later notice was issued to the personal guarantor, with limitation considerations mentioned. On that basis, the application under section 94 of the Insolvency and Bankruptcy Code, 2016 was not admissible. Case-Laws Insolvency and Bankruptcy Thu, 05 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432506