https://www.taxtmi.com/caselaws?id=750741 NCLAT Principal Bench allowed appeals after bank accepted OTS proposal from corporate debtor and guarantors. Settlement agreement was recorded and CIRP proceedings against corporate debtor, corporate guarantors, and Section 95 proceedings against personal guarantors were closed. Impugned orders dated 04.07.2023, 08.12.2023, and 06.12.2023 were set aside. CIRP terminated with all parties freed from proceedings. Personal guarantors paid Rs.2 lakhs each to IRP. Appellant required to pay Rs.5 lakhs within two weeks if not already paid. Deposited amount in company appeal to be transferred to bank per settlement terms. en-us Fri, 22 Mar 2024 00:00:00 +0530 Fri, 29 Mar 2024 07:46:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750741 NCLAT Principal Bench allowed appeals after bank accepted OTS proposal from corporate debtor and guarantors. Settlement agreement was recorded and CIRP proceedings against corporate debtor, corporate guarantors, and Section 95 proceedings against personal guarantors were closed. Impugned orders dated 04.07.2023, 08.12.2023, and 06.12.2023 were set aside. CIRP terminated with all parties freed from proceedings. Personal guarantors paid Rs.2 lakhs each to IRP. Appellant required to pay Rs.5 lakhs within two weeks if not already paid. Deposited amount in company appeal to be transferred to bank per settlement terms. Case-Laws Insolvency and Bankruptcy Fri, 22 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750741