https://www.taxtmi.com/caselaws?id=470501 Insolvency resolution against a personal guarantor may proceed where the guarantee is admitted, its terms permit creditor recourse, and the Resolution Professional establishes subsisting debt, default and service of demand notice. Unsupported claims of repayment do not negate the default. A possible settlement and the pending insolvency process of the corporate debtor do not displace the basis for action against the guarantor. On these facts, the application for initiation of insolvency resolution process against the personal guarantor was admitted. en-us Thu, 04 Apr 2024 00:00:00 +0530 Thu, 30 Jul 2026 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470501 Insolvency resolution against a personal guarantor may proceed where the guarantee is admitted, its terms permit creditor recourse, and the Resolution Professional establishes subsisting debt, default and service of demand notice. Unsupported claims of repayment do not negate the default. A possible settlement and the pending insolvency process of the corporate debtor do not displace the basis for action against the guarantor. On these facts, the application for initiation of insolvency resolution process against the personal guarantor was admitted. Case-Laws IBC Thu, 04 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470501