Can the Demand Notice under Rule 7 of Personal Guarantors Rules, 2019 substitute Invocation of Guarantee?
Can the Demand Notice under Rule 7 of Personal Guarantors Rules, 2019 substitute Invocation of Guarantee? Introduction On 28th February 2025, the National Company Law Appellate Tribunal (‘NCLAT’) in the case of State Bank of India v. Mr Deepak Kumar Singhania1, clarified that a statutory demand notice issued Rule 7(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for […]
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