https://www.taxtmi.com/caselaws?id=754795 NCLT New Delhi rejected an application for initiation of Personal Insolvency Resolution Process against a respondent. The tribunal found that the respondent was designated as co-borrower rather than personal guarantor in loan documentation. Additionally, the applicant had pursued multiple legal remedies including arbitration proceedings and Section 138 NI Act proceedings before approaching NCLT, constituting forum shopping. The tribunal held that the applicant had not approached with clean hands and dismissed the application for personal insolvency proceedings. 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 NCLT New Delhi rejected an application for initiation of Personal Insolvency Resolution Process against a respondent. The tribunal found that the respondent was designated as co-borrower rather than personal guarantor in loan documentation. Additionally, the applicant had pursued multiple legal remedies including arbitration proceedings and Section 138 NI Act proceedings before approaching NCLT, constituting forum shopping. The tribunal held that the applicant had not approached with clean hands and dismissed the application for personal insolvency proceedings. Case-Laws Insolvency and Bankruptcy Tue, 11 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754795