https://www.taxtmi.com/caselaws?id=769631 A personal guarantor's Section 94 insolvency application under the IBC may be rejected where the timing and surrounding conduct show it was filed to obstruct SARFAESI recovery and obtain the benefit of moratorium, rather than for bona fide insolvency resolution. The tribunal noted that prior initiation of enforcement proceedings does not by itself bar a Section 94 application, but each case must be examined for genuine insolvency intent. It also held that, where the Section 99 report is already on record and adequate opportunity to respond has been given, the Adjudicating Authority may proceed at the Section 100 stage, and no breach of natural justice is made out merely because an intervention application was entertained. en-us Fri, 25 Apr 2025 00:00:00 +0530 Tue, 29 Apr 2025 08:33:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769631 A personal guarantor's Section 94 insolvency application under the IBC may be rejected where the timing and surrounding conduct show it was filed to obstruct SARFAESI recovery and obtain the benefit of moratorium, rather than for bona fide insolvency resolution. The tribunal noted that prior initiation of enforcement proceedings does not by itself bar a Section 94 application, but each case must be examined for genuine insolvency intent. It also held that, where the Section 99 report is already on record and adequate opportunity to respond has been given, the Adjudicating Authority may proceed at the Section 100 stage, and no breach of natural justice is made out merely because an intervention application was entertained. Case-Laws IBC Fri, 25 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769631