https://www.taxtmi.com/caselaws?id=769280 NCLAT upheld the Adjudicating Authority's order dismissing appellant's challenge to insolvency proceedings. The tribunal found that demand notices were validly served to the address in the Guarantee Deed, meeting statutory requirements under Sections 95 and 99 of IBC. Appellant's non-service claims were rejected as contractually, notices sent to the recorded address constitute sufficient service. The tribunal confirmed that simultaneous CIRP proceedings against the corporate debtor do not preclude action against the personal guarantor, who remains liable under the guarantee deed. Appellant failed to provide a viable repayment plan, justifying closure of insolvency resolution process. The appeal was dismissed. en-us Tue, 18 Mar 2025 00:00:00 +0530 Mon, 14 Apr 2025 12:52:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769280 NCLAT upheld the Adjudicating Authority's order dismissing appellant's challenge to insolvency proceedings. The tribunal found that demand notices were validly served to the address in the Guarantee Deed, meeting statutory requirements under Sections 95 and 99 of IBC. Appellant's non-service claims were rejected as contractually, notices sent to the recorded address constitute sufficient service. The tribunal confirmed that simultaneous CIRP proceedings against the corporate debtor do not preclude action against the personal guarantor, who remains liable under the guarantee deed. Appellant failed to provide a viable repayment plan, justifying closure of insolvency resolution process. The appeal was dismissed. Case-Laws IBC Tue, 18 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769280