https://www.taxtmi.com/caselaws?id=788681 A notice under Section 13(2) of the SARFAESI Act invoked the personal guarantee because it expressly called on the guarantor to discharge liability, and that invocation fixed the commencement of limitation. A clear acknowledgment of debt in the corporate debtor's financial statements attracted Section 18 of the Limitation Act and gave rise to a fresh limitation period, which also operated for the guarantor's benefit. Parallel SARFAESI recovery steps did not displace the insolvency remedy. The Section 95 petition was therefore within limitation and maintainable, and the insolvency proceedings against the personal guarantors were allowed to continue. en-us Tue, 24 Mar 2026 00:00:00 +0530 Thu, 26 Mar 2026 09:07:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788681 A notice under Section 13(2) of the SARFAESI Act invoked the personal guarantee because it expressly called on the guarantor to discharge liability, and that invocation fixed the commencement of limitation. A clear acknowledgment of debt in the corporate debtor's financial statements attracted Section 18 of the Limitation Act and gave rise to a fresh limitation period, which also operated for the guarantor's benefit. Parallel SARFAESI recovery steps did not displace the insolvency remedy. The Section 95 petition was therefore within limitation and maintainable, and the insolvency proceedings against the personal guarantors were allowed to continue. Case-Laws IBC Tue, 24 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788681