https://www.taxtmi.com/caselaws?id=768463 NCLAT Principal Bench set aside the adjudicating authority's order admitting a Section 95 application filed by a bank against personal guarantors. The tribunal held that the adjudicating authority failed to conduct independent assessment as required under Dilip B. Jiwrajka precedent, mechanically following the resolution professional's report without considering relevant factors including Rs. 5.92 crore already realized under SARFAESI and guarantor's claim that remaining assets were sufficient to liquidate debt. The matter was remanded for fresh consideration after allowing guarantors to file objections within 30 days. Appeal allowed. en-us Wed, 02 Apr 2025 00:00:00 +0530 Tue, 08 Apr 2025 08:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768463 NCLAT Principal Bench set aside the adjudicating authority's order admitting a Section 95 application filed by a bank against personal guarantors. The tribunal held that the adjudicating authority failed to conduct independent assessment as required under Dilip B. Jiwrajka precedent, mechanically following the resolution professional's report without considering relevant factors including Rs. 5.92 crore already realized under SARFAESI and guarantor's claim that remaining assets were sufficient to liquidate debt. The matter was remanded for fresh consideration after allowing guarantors to file objections within 30 days. Appeal allowed. Case-Laws IBC Wed, 02 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768463