Insolvency Proceedings on Personal Guarantor of Corporate Debtor can be initiated when no CIRP is pending before NCLT: NCLAT [Read Order]

By Yogitha S. Yogesh - On August 14, 2023 2:00 pm - 2 mins read

Insolvency Proceedings - Personal Guarantor of Corporate Debtor - CIRP -Corporate Debtor - NCLT - NCLAT - taxscan

The Chennai bench of the National Company Law Appellate Tribunal (NCLAT) has held that Insolvency Proceedings on the Personal Guarantor of a Corporate Debtor can be initiated when no Corporate Insolvency Resolution Process (CIRP) is pending before National Company Law Tribunal (NCLT). Mahendra Kumar Agarwal, the Appellant is the Personal Guarantor of M/s. Gati Infrastructure…

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