https://www.taxtmi.com/caselaws?id=790817 A Section 95 application filed by a debenture trustee through its authorised officer was upheld as competent because a board resolution and power of attorney were already on record, and the contractual clause recognising the trustee's role supported the authority to institute proceedings. The challenge to maintainability on lack of authorisation therefore failed. A separate direction requiring personal guarantors to deposit funds was not sustained, as it was conceded that any such deposit obligation could not rest on the guarantors and had to be placed on the financial creditor. The impugned order was modified accordingly, with the filing challenge rejected and the deposit direction set aside against the guarantors. en-us Wed, 29 Apr 2026 00:00:00 +0530 Fri, 01 May 2026 10:14:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790817 A Section 95 application filed by a debenture trustee through its authorised officer was upheld as competent because a board resolution and power of attorney were already on record, and the contractual clause recognising the trustee's role supported the authority to institute proceedings. The challenge to maintainability on lack of authorisation therefore failed. A separate direction requiring personal guarantors to deposit funds was not sustained, as it was conceded that any such deposit obligation could not rest on the guarantors and had to be placed on the financial creditor. The impugned order was modified accordingly, with the filing challenge rejected and the deposit direction set aside against the guarantors. Case-Laws IBC Wed, 29 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790817