https://www.taxtmi.com/caselaws?id=781878 NCLAT upheld the maintainability of proceedings under Section 95 of the IBC against personal guarantors of a corporate debtor. It noted that, after appointment of the Resolution Professional, the Adjudicating Authority correctly directed an examination under Section 97(6), followed by a report under Section 99 confirming the outstanding claim and supporting documents. Relying on Section 128 of the Contract Act, the Tribunal held the guarantors' liability to be co-extensive with that of the principal debtor, with no dispute as to notice or default. The initiation of insolvency resolution process against the personal guarantors was held to be within the IBC framework, and the appeal was dismissed as devoid of merit. en-us Mon, 10 Nov 2025 00:00:00 +0530 Sat, 22 Nov 2025 07:36:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781878 NCLAT upheld the maintainability of proceedings under Section 95 of the IBC against personal guarantors of a corporate debtor. It noted that, after appointment of the Resolution Professional, the Adjudicating Authority correctly directed an examination under Section 97(6), followed by a report under Section 99 confirming the outstanding claim and supporting documents. Relying on Section 128 of the Contract Act, the Tribunal held the guarantors' liability to be co-extensive with that of the principal debtor, with no dispute as to notice or default. The initiation of insolvency resolution process against the personal guarantors was held to be within the IBC framework, and the appeal was dismissed as devoid of merit. Case-Laws IBC Mon, 10 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781878