https://www.taxtmi.com/caselaws?id=754795 A co-borrower named in loan documents could not be treated as a personal guarantor where the application form, sanction letter, loan agreement and default record described the respondent only as a co-borrower and no separate contract of guarantee or suretyship was executed. The Tribunal held that joint and several liability in the borrowing documents did not by itself satisfy the statutory definition of a personal guarantor under the Insolvency and Bankruptcy Code, 2016. On that basis, the insolvency application under section 95(1) was found not maintainable and dismissed. en-us Tue, 11 Jun 2024 00:00:00 +0530 Sat, 29 Jun 2024 13:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754795 A co-borrower named in loan documents could not be treated as a personal guarantor where the application form, sanction letter, loan agreement and default record described the respondent only as a co-borrower and no separate contract of guarantee or suretyship was executed. The Tribunal held that joint and several liability in the borrowing documents did not by itself satisfy the statutory definition of a personal guarantor under the Insolvency and Bankruptcy Code, 2016. On that basis, the insolvency application under section 95(1) was found not maintainable and dismissed. Case-Laws Insolvency and Bankruptcy Tue, 11 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754795