https://www.taxtmi.com/caselaws?id=781982 NCLAT set aside the order of the Adjudicating Authority dismissing a bank's application under Section 95 IBC against a personal guarantor as time-barred. It held that acknowledgments of debt in the corporate debtor's balance sheets from FY 2016-17 to 2019-20, read with Clauses 12 and 19 of the Deed of Guarantee and Section 18 of the Limitation Act, extended limitation against the guarantor, consistent with SC precedent affirming co-extensive and concurrent liability of guarantor and borrower. The Tribunal further found that a 30.09.2016 demand-cum-recall notice to both borrower and guarantor constituted valid invocation of the guarantee. The Section 95 application filed in October 2021 was within limitation, and the appeal was allowed. en-us Fri, 17 Oct 2025 00:00:00 +0530 Fri, 21 Nov 2025 11:31:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781982 NCLAT set aside the order of the Adjudicating Authority dismissing a bank's application under Section 95 IBC against a personal guarantor as time-barred. It held that acknowledgments of debt in the corporate debtor's balance sheets from FY 2016-17 to 2019-20, read with Clauses 12 and 19 of the Deed of Guarantee and Section 18 of the Limitation Act, extended limitation against the guarantor, consistent with SC precedent affirming co-extensive and concurrent liability of guarantor and borrower. The Tribunal further found that a 30.09.2016 demand-cum-recall notice to both borrower and guarantor constituted valid invocation of the guarantee. The Section 95 application filed in October 2021 was within limitation, and the appeal was allowed. Case-Laws IBC Fri, 17 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781982