https://www.taxtmi.com/caselaws?id=467103 The text addresses personal guarantor insolvency procedure, emphasising that the resolution professional must examine applications and report on the guarantor's capacity to prosecute insolvency proceedings; the tribunal may act on that report to reject an admission application where the guarantor cannot bear process expenses or propose a viable repayment plan, and such rejection triggers that creditors may pursue remedies under Chapter IV. It clarifies that moratorium and creditor claim verification rules apply on admission, but Chapter IV consequences arise only following applicable Chapter III orders and are not directly operative where rejection occurs solely for inability to prosecute. en-us Thu, 02 Jan 2025 00:00:00 +0530 Fri, 06 Mar 2026 20:54:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467103 The text addresses personal guarantor insolvency procedure, emphasising that the resolution professional must examine applications and report on the guarantor's capacity to prosecute insolvency proceedings; the tribunal may act on that report to reject an admission application where the guarantor cannot bear process expenses or propose a viable repayment plan, and such rejection triggers that creditors may pursue remedies under Chapter IV. It clarifies that moratorium and creditor claim verification rules apply on admission, but Chapter IV consequences arise only following applicable Chapter III orders and are not directly operative where rejection occurs solely for inability to prosecute. Case-Laws IBC Thu, 02 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467103