https://www.taxtmi.com/caselaws?id=798451 Section 94 permits a personal guarantor in default to initiate a personal insolvency resolution process and propose a repayment plan, while Section 96 grants an interim moratorium. These provisions require a genuine effort to resolve insolvency and cannot be used to obstruct a financial creditor's lawful security enforcement. Withdrawal of an earlier application after enjoying the interim moratorium, followed by a fresh application immediately after issuance of a possession notice, without any intervening repayment effort, demonstrated an intent to stall recovery proceedings. The personal guarantor's application was therefore rejected as an abuse of the insolvency process and interim moratorium. en-us Mon, 07 Sep 2026 00:00:00 +0530 Tue, 08 Sep 2026 08:42:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798451 Section 94 permits a personal guarantor in default to initiate a personal insolvency resolution process and propose a repayment plan, while Section 96 grants an interim moratorium. These provisions require a genuine effort to resolve insolvency and cannot be used to obstruct a financial creditor's lawful security enforcement. Withdrawal of an earlier application after enjoying the interim moratorium, followed by a fresh application immediately after issuance of a possession notice, without any intervening repayment effort, demonstrated an intent to stall recovery proceedings. The personal guarantor's application was therefore rejected as an abuse of the insolvency process and interim moratorium. Case-Laws IBC Mon, 07 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798451