Financial creditor cannot sale property of personal guarantors during moratorium u/s. 96 of IBC

Raghavendra Joshi Vs Indian Bank (NCLT Mumbai)

NCLT Mumbai held that sale of property of personal guarantors by financial creditor under SARFAESI Act during protection of moratorium under section 96 of the IBC is invalid sale as protection of moratorium under section 96 is far greater than of section 14.

Facts- State Bank of India (‘the Financial Creditor’) had extended credit facilities on 17.05.2014 to M/s Deogiri Infrastructure Private Limited (‘the Corporate Debtor’). The repayment of the said facilities was secured by personal guarantee given by

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