https://www.taxtmi.com/caselaws?id=771731 NCLAT Chennai dismissed an appeal challenging rejection of proceedings under Section 95 of I&B Code, 2016. The tribunal held that when interim moratorium is imposed under Section 96 following another financial creditor's application under Section 95, no other financial creditor can initiate fresh proceedings against personal guarantors during the moratorium period. The appellant's grievance regarding denial to file Section 95 application due to existing proceedings and interim moratorium was found without merit. The tribunal noted that once orders are passed under Section 100 either admitting or rejecting the existing application, the appellant's concerns would be addressed through appropriate channels. en-us Wed, 30 Apr 2025 00:00:00 +0530 Fri, 30 May 2025 08:55:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771731 NCLAT Chennai dismissed an appeal challenging rejection of proceedings under Section 95 of I&B Code, 2016. The tribunal held that when interim moratorium is imposed under Section 96 following another financial creditor's application under Section 95, no other financial creditor can initiate fresh proceedings against personal guarantors during the moratorium period. The appellant's grievance regarding denial to file Section 95 application due to existing proceedings and interim moratorium was found without merit. The tribunal noted that once orders are passed under Section 100 either admitting or rejecting the existing application, the appellant's concerns would be addressed through appropriate channels. Case-Laws IBC Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771731