NCLT Rejects Section 95 Petition Due to Non-Invocation of Personal Guarantee

UCO Bank Vs Mallika Barooah (PG) (NCLT Guwahati) The National Company Law Tribunal (NCLT), Guwahati Bench, considered an application filed by a financial creditor under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking initiation of insolvency resolution proceedings against an individual alleged to be a personal guarantor to a corporate debtor. The application was based on an alleged default amounting to ₹148.67 crore as on 20 January 2025. The financial creditor submitted that the corporate debtor had availed multiple cash-credit facilities from time to time under variou...