Demand notice u/s. 13(2) of SARFAESI is valid notice of invocation of guarantee

Ujwal Gupta Vs Union Bank of India (NCLAT Delhi)

NCLAT Delhi held that demand notice under section 13(2) of the SARFAESI Act is a valid notice of invocation of personal guarantee for the Insolvency proceeding. Accordingly, appeal is dismissed.

Facts- Instant appeal has been preferred by the Appellant (Personal Guarantor) under Section 61 of the Insolvency and Bankruptcy Code, 2016 assailing the order dated 10.09.2024 (impugned order) passed by the NCLT, New Delhi, Bench –III (Adjudicating Authority) whereby I.A No. 2253 of 2024 filed by the RP/Respondent

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