Approval of resolution plan doesn’t ipso facto absolve guarantor

Indian Bank Vs Njanee Kumar Lakhotia (NCLAT Delhi) NCLAT Delhi held that by approval of resolution plan, the personal guarantee is not ipso facto discharged. Thus, the Indian Bank which is dissenting Financial Creditor cannot proceed to file an application under Section 95 against the respondent. Facts- This appeal has been filed by the Indian Bank challenging the order dated 24.01.2025 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, Court-III by which an application under Section 95(1) filed by the Indian Bank has been rejected by the Adjudicating Auth...