No insolvency proceedings as misrepresentation of borrower as Guarantor invalidated section 95 application

Pawan Gupta Vs Charm Investments Pvt. Ltd. (NCLAT Delhi) Conclusion:  NCLAT held that the order appointing the Resolution Professional under Section 97 was obtained on the basis of misrepresented and non-existent jurisdictional facts relating to the alleged personal guarantee. Accordingly, the impugned order was set aside as void ab initio. However, liberty was granted to the Financial Creditor to initiate fresh proceedings under Section 95 by filing a proper application supported by all relevant documents. Held: Financial Creditor initiated insolvency resolution proceedings under Section 95...