The tribunal noted that even in cases where the corporate debtor is not facing insolvency or liquidation proceedings before the NCLT, an application under section 95 may be made against the personal guarantor
The National Company Law Appellate Tribunal ( NCLAT ) bench in New Delhi has ruled that, even in cases where the National Company Law Tribunal ( NCLT ) has not yet started or is in the process of liquidating a corporate debtor, an application under section 95 of the Insolvency and Bankruptcy Code (Code) against the personal guarantor may be maintained before the NCLT under section 60(1) of the code.
The appellant, Anita Goyal, appealed a decision made by the adjudicating body that granted an application under section 95 and…
