https://www.taxtmi.com/caselaws?id=759362 An application by a personal guarantor under the Insolvency and Bankruptcy Code was found not maintainable because the demand notice was addressed to the corporate debtor and another guarantor, not to the applicant, so invocation of the guarantee against the applicant was not established. The record also lacked relevant particulars needed to support maintainability, and no other material showed proper invocation of the guarantee for recovery. The resolution professional's report was not accepted as satisfactory on eligibility and maintainability. The application was therefore rejected. en-us Thu, 18 Apr 2024 00:00:00 +0530 Mon, 30 Sep 2024 13:45:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759362 An application by a personal guarantor under the Insolvency and Bankruptcy Code was found not maintainable because the demand notice was addressed to the corporate debtor and another guarantor, not to the applicant, so invocation of the guarantee against the applicant was not established. The record also lacked relevant particulars needed to support maintainability, and no other material showed proper invocation of the guarantee for recovery. The resolution professional's report was not accepted as satisfactory on eligibility and maintainability. The application was therefore rejected. Case-Laws IBC Thu, 18 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759362