https://www.taxtmi.com/highlights?id=96919 NCLAT addressed whether a demand notice in Form B under Rule 7(1) of the Personal Guarantor Rules, 2019, can itself constitute invocation of a guarantee for purposes of filing under Section 95 of the Code. The Tribunal held that a guarantor is a debtor who is a personal guarantor to the corporate debtor and that the financial creditor must invoke the guarantee prior to issuing a Form B demand; a pre-existing default by the guarantor must exist at the time of that notice. Absence of prior invocation meant no default and the adjudicating authority's admission was set aside. en-us Mon, 16 Feb 2026 09:58:54 +0530 Mon, 16 Feb 2026 09:58:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=96919 NCLAT addressed whether a demand notice in Form B under Rule 7(1) of the Personal Guarantor Rules, 2019, can itself constitute invocation of a guarantee for purposes of filing under Section 95 of the Code. The Tribunal held that a guarantor is a debtor who is a personal guarantor to the corporate debtor and that the financial creditor must invoke the guarantee prior to issuing a Form B demand; a pre-existing default by the guarantor must exist at the time of that notice. Absence of prior invocation meant no default and the adjudicating authority's admission was set aside. Highlights IBC Mon, 16 Feb 2026 09:58:54 +0530 https://www.taxtmi.com/highlights?id=96919