https://www.taxtmi.com/caselaws?id=785646 A personal guarantee requiring written demand was validly invoked by an earlier legal notice addressed to both the corporate debtor and the guarantor, even though a later Rule 7 notice was also issued. That pre-application notice satisfied the contractual mode of invocation, so the objection to a Section 95 application for want of invocation failed. The omission to file the personal guarantor's income-tax returns did not by itself make the application incomplete or non-maintainable, because the prescribed form required disclosure of annual income only to the extent known and did not mandate filing of returns. The impugned rejection was set aside and the petition was revived for fresh consideration under the insolvency framework. en-us Fri, 16 Jan 2026 00:00:00 +0530 Thu, 29 Jan 2026 09:51:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785646 A personal guarantee requiring written demand was validly invoked by an earlier legal notice addressed to both the corporate debtor and the guarantor, even though a later Rule 7 notice was also issued. That pre-application notice satisfied the contractual mode of invocation, so the objection to a Section 95 application for want of invocation failed. The omission to file the personal guarantor's income-tax returns did not by itself make the application incomplete or non-maintainable, because the prescribed form required disclosure of annual income only to the extent known and did not mandate filing of returns. The impugned rejection was set aside and the petition was revived for fresh consideration under the insolvency framework. Case-Laws IBC Fri, 16 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785646