Can an Insolvency Case Against a Personal Guarantor Before NCLT Stand Without CIRP Or Liquidation Proceedings Against Corporate Debtor?
This article examines the jurisdictional challenges that have arisen in recent cases concerning the Insolvency applications filed against personal guarantors under Section 95 of the Insolvency and Bankruptcy Code, 2016 (“Code”). While Part III of the Code which deals with Insolvency proceedings against Partnership firms and individuals remains partially unnotified, insolvency applications against personal guarantors have been permitted. A key […]
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