https://www.taxtmi.com/caselaws?id=755648 The NCLAT dismissed an appeal where a Personal Guarantor challenged the Adjudicating Authority's permission allowing a Financial Creditor to amend the default date in their Section 95 application. The court held that Financial Creditors can supplement applications with additional documents, and the amended default date of 22.12.2021 (when the demand notice was sent invoking the guarantee) was appropriate, as the original date related to the Corporate Guarantor. The Personal Guarantor retained full opportunity to contest the new default date and raise limitation arguments, with rights adequately protected by the impugned order. en-us Tue, 16 Jul 2024 00:00:00 +0530 Tue, 16 Jul 2024 18:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755648 The NCLAT dismissed an appeal where a Personal Guarantor challenged the Adjudicating Authority's permission allowing a Financial Creditor to amend the default date in their Section 95 application. The court held that Financial Creditors can supplement applications with additional documents, and the amended default date of 22.12.2021 (when the demand notice was sent invoking the guarantee) was appropriate, as the original date related to the Corporate Guarantor. The Personal Guarantor retained full opportunity to contest the new default date and raise limitation arguments, with rights adequately protected by the impugned order. Case-Laws Insolvency and Bankruptcy Tue, 16 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755648