https://www.taxtmi.com/caselaws?id=435947 The Tribunal affirmed the dismissal of Union Bank of India's application under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Insolvency Resolution Process against a personal guarantor. The Tribunal held that the date of filing, not numbering, determines priority, and Union Bank of India could submit its claim through the Resolution Professional appointed in State Bank of India's application, ensuring no prejudice. Multiple applications against the same guarantor are not contemplated under the Code, consolidating creditors' claims in a single process. en-us Wed, 29 Mar 2023 00:00:00 +0530 Fri, 31 Mar 2023 14:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435947 The Tribunal affirmed the dismissal of Union Bank of India's application under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Insolvency Resolution Process against a personal guarantor. The Tribunal held that the date of filing, not numbering, determines priority, and Union Bank of India could submit its claim through the Resolution Professional appointed in State Bank of India's application, ensuring no prejudice. Multiple applications against the same guarantor are not contemplated under the Code, consolidating creditors' claims in a single process. Case-Laws Insolvency and Bankruptcy Wed, 29 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435947