NCLT can initiate insolvency proceedings of Personal Guarantors even when no CIRP pending against Corporate Debtor

Mahendra Kumar Agarwal Vs PTC India Financial Services Ltd (NCLAT Chennai)

NCLAT Chennai held that National Company Law Tribunal (NCLT) has jurisdiction to initiate insolvency proceedings of Personal Guarantors even when no Corporate Insolvency Resolution Process (CIRP) Proceedings is pending against Corporate Debtor.

Facts- The Appellant/ 1^st Respondent/ Personal Guarantor of M/s. Gati Infrastructure Bhamsey Power Private Limited has preferred

Please become a Premium member. If you are already a Premium member, login here to access the full content.