NCLAT Reverses NCLT’s Direction to Invoke Personal Guarantees

Mukesh Goel Vs Santanu Brahma & Anr (NCLAT Delhi) The National Company Law Appellate Tribunal (NCLAT) in Delhi has ruled in favor of Mukesh Goel, the Resolution Applicant, by setting aside parts of an order from the National Company Law Tribunal (NCLT). The NCLT’s order had approved the resolution plan for M/s Aanchal Ispat Ltd but included a directive for financial creditors to invoke personal guarantees provided by the company’s guarantors. Goel appealed this specific directive, arguing it was contrary to the approved resolution plan. The NCLAT observed that the resolution plan, ...