Insolvency Proceedings Against Personal Guarantors Upheld Despite Corporate CIRP

Neeta Saha Vs Assets Care & Reconstruction Enterprise Ltd. (NCLAT Delhi) The National Company Law Appellate Tribunal, Delhi Bench, dismissed a set of appeals filed by personal guarantors challenging a common order dated 07.01.2025 that admitted applications under Section 95 of the Insolvency and Bankruptcy Code, 2016. The impugned order, passed by the Adjudicating Authority (NCLT, New Delhi Bench–II), initiated personal insolvency resolution proceedings against the appellants, who had furnished personal guarantees for loans availed by the corporate debtor. The factual background showed t...