https://www.taxtmi.com/caselaws?id=751356 For insolvency proceedings against a personal guarantor, limitation runs from invocation of the guarantee, not from a later demand notice. A notice issued under Section 13(2) of the SARFAESI Act was treated as the starting point, and a subsequent demand notice could not extend or revive limitation. Objections that proceedings against one personal guarantor were impermissible, or that CIRP pendency or resolution plan approval for the principal borrower barred action against the guarantor, were rejected. On the stated dates, the Section 95 application was filed beyond the limitation period and was liable to be rejected. en-us Thu, 01 Feb 2024 00:00:00 +0530 Mon, 15 Apr 2024 08:32:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751356 For insolvency proceedings against a personal guarantor, limitation runs from invocation of the guarantee, not from a later demand notice. A notice issued under Section 13(2) of the SARFAESI Act was treated as the starting point, and a subsequent demand notice could not extend or revive limitation. Objections that proceedings against one personal guarantor were impermissible, or that CIRP pendency or resolution plan approval for the principal borrower barred action against the guarantor, were rejected. On the stated dates, the Section 95 application was filed beyond the limitation period and was liable to be rejected. Case-Laws Insolvency and Bankruptcy Thu, 01 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751356