https://www.taxtmi.com/caselaws?id=456550 An application to initiate insolvency resolution against a personal guarantor was found not maintainable because the record showed inconsistent dates of default, undermining the limitation basis for the claim. The revival letter relied on to extend limitation was not filed with the application and was produced later, which cast doubt on its genuineness and evidentiary value. The notice under section 13(2) of the SARFAESI Act was treated as insufficient, on these facts, to establish valid invocation of the personal guarantee, particularly where the stated default date did not align with the notice date. The application was therefore held to be beyond limitation and procedurally defective, and it was rejected. en-us Thu, 07 Mar 2024 00:00:00 +0530 Wed, 31 Jul 2024 20:21:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456550 An application to initiate insolvency resolution against a personal guarantor was found not maintainable because the record showed inconsistent dates of default, undermining the limitation basis for the claim. The revival letter relied on to extend limitation was not filed with the application and was produced later, which cast doubt on its genuineness and evidentiary value. The notice under section 13(2) of the SARFAESI Act was treated as insufficient, on these facts, to establish valid invocation of the personal guarantee, particularly where the stated default date did not align with the notice date. The application was therefore held to be beyond limitation and procedurally defective, and it was rejected. Case-Laws Insolvency and Bankruptcy Thu, 07 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456550