https://www.taxtmi.com/highlights?id=99675 A personal guarantor's Section 94 application, filed after an e-auction had been held and confirmed under SARFAESI, was found to be a non-bona fide attempt to delay recovery rather than a genuine insolvency resolution step. The Tribunal held that the filing was an abuse of process because the bank had already enforced its security rights and the guarantor had also pursued a separate challenge before the DRT, which was the appropriate remedy. The rejection of the applications was therefore upheld, and the appellant was left to continue contesting the auction before the DRT. en-us Tue, 12 May 2026 08:50:36 +0530 Tue, 12 May 2026 08:50:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=99675 A personal guarantor's Section 94 application, filed after an e-auction had been held and confirmed under SARFAESI, was found to be a non-bona fide attempt to delay recovery rather than a genuine insolvency resolution step. The Tribunal held that the filing was an abuse of process because the bank had already enforced its security rights and the guarantor had also pursued a separate challenge before the DRT, which was the appropriate remedy. The rejection of the applications was therefore upheld, and the appellant was left to continue contesting the auction before the DRT. Highlights IBC Tue, 12 May 2026 08:50:36 +0530 https://www.taxtmi.com/highlights?id=99675