https://www.taxtmi.com/caselaws?id=761744 NCLAT dismissed appeal by personal guarantor challenging admission of Section 95 application filed by State Bank of India. Court held that limitation period was properly extended under Section 18 of Limitation Act based on pleadings on record. Single notice of demand to personal guarantor was sufficient to invoke guarantee, and repeated notices were not required before filing Section 95 application. Adjudicating Authority correctly admitted the application as it was filed within prescribed time limits. No error found in lower authority's order admitting proceedings against personal guarantor. en-us Thu, 18 Jul 2024 00:00:00 +0530 Sat, 16 Nov 2024 08:38:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761744 NCLAT dismissed appeal by personal guarantor challenging admission of Section 95 application filed by State Bank of India. Court held that limitation period was properly extended under Section 18 of Limitation Act based on pleadings on record. Single notice of demand to personal guarantor was sufficient to invoke guarantee, and repeated notices were not required before filing Section 95 application. Adjudicating Authority correctly admitted the application as it was filed within prescribed time limits. No error found in lower authority's order admitting proceedings against personal guarantor. Case-Laws IBC Thu, 18 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761744