Approval of resolution plan doesn’t ipso facto absolve Guarantor: NCLAT

Indian Bank Vs Anjanee Kumar Lakhotia (NCLAT Delhi) In a significant ruling, the National Company Law Appellate Tribunal (NCLAT), New Delhi Bench, has dismissed an appeal filed by Indian Bank, challenging an order by the National Company Law Tribunal (NCLT) that rejected an insolvency application against a personal guarantor. The case, Indian Bank vs. Anjanee Kumar Lakhotia, centered on the interplay between an approved resolution plan under the Insolvency and Bankruptcy Code (IBC) and the liability of a personal guarantor who was also the resolution applicant. The dispute originated from fina...