https://www.taxtmi.com/caselaws?id=795171 An insolvency resolution application under Section 95(1) against a personal guarantor is maintainable before the NCLT without any prior, pending, or concluded CIRP or liquidation of the corporate debtor. A guarantee creates financial debt, and the statutory scheme does not make proceedings against the guarantor contingent on proceedings against the principal debtor. As the guarantor's liability is co-extensive with that of the corporate debtor, a financial creditor need not first exhaust remedies against the corporate debtor and may independently elect to invoke the personal guarantee. en-us Tue, 14 Jul 2026 00:00:00 +0530 Sat, 18 Jul 2026 08:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795171 An insolvency resolution application under Section 95(1) against a personal guarantor is maintainable before the NCLT without any prior, pending, or concluded CIRP or liquidation of the corporate debtor. A guarantee creates financial debt, and the statutory scheme does not make proceedings against the guarantor contingent on proceedings against the principal debtor. As the guarantor's liability is co-extensive with that of the corporate debtor, a financial creditor need not first exhaust remedies against the corporate debtor and may independently elect to invoke the personal guarantee. Case-Laws IBC Tue, 14 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795171