https://www.taxtmi.com/caselaws?id=755648 The date of default in a Section 95 application was treated as material to limitation and to adjudication of the personal guarantor's liability. The financial creditor sought to rely on material introduced in the rejoinder to amend the alleged default date, substituting a later notice as the basis for invocation of the personal guarantee. As the guarantor had already objected that the earlier SARFAESI notice did not amount to invocation, and the Adjudicating Authority had granted liberty to file a reply and oppose the revised date, permitting the amendment merely placed the relevant material on record. It did not finally decide limitation or invocation, and no prejudice was found. 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 date of default in a Section 95 application was treated as material to limitation and to adjudication of the personal guarantor's liability. The financial creditor sought to rely on material introduced in the rejoinder to amend the alleged default date, substituting a later notice as the basis for invocation of the personal guarantee. As the guarantor had already objected that the earlier SARFAESI notice did not amount to invocation, and the Adjudicating Authority had granted liberty to file a reply and oppose the revised date, permitting the amendment merely placed the relevant material on record. It did not finally decide limitation or invocation, and no prejudice was found. Case-Laws Insolvency and Bankruptcy Tue, 16 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755648