Non-fulfillment of debt owed to CD is default on part of personal guarantor: NCLAT

Hemant Bohra Vs State Bank of India & Anr. (NCLAT Delhi)

Appellant is suspended director of the Corporate Debtor (M/s Bohra Industries Ltd.) (BIL) gave a guarantee to the Respondent (State Bank of India) in respect of a sanction letter dated 10.08.2017 for loan of an amount of Rs. 68.5 Cr. and executed a supplementary deed of guarantee dated 05.09.2017. Corporate debtor was admitted into CIRP. The Respondent issued a demand notice on 25.08.2020 to the appellant regarding unpaid dues of corporate debtor, in terms of Rule 7(1) of the IBBI (Application to Adjudicating Authority fo

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