NCLT Admits Insolvency Against Personal Guarantor as Continuing Guarantee Kept Claim Within Limitation

Aditya Birla Finance Pvt. Ltd. Vs G Thiyagarajan (NCLT Chennai) The National Company Law Tribunal (NCLT), Chennai, admitted a petition filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking initiation of insolvency resolution proceedings against a personal guarantor in respect of loans extended to a corporate debtor. The Tribunal appointed Mr. Ravindra Beleyur as the Resolution Professional (RP), accepted the report submitted under Section 99 of the IBC recommending initiation of insolvency proceedings, and admitted the petition. The financial creditor stated that loa...