NCLT admits plea under Section 94(1) IBC for initiation of insolvency process against personal guarantor

Last week, the Supreme Court transferred to itself a batch of petitions challenging IBC provisions relating to insolvency of personal guarantors.
NCLT admits plea under Section 94(1) IBC for initiation of insolvency process against personal guarantor
NCLT- Image for representational purposes

In one of the firsts, the National Company Law Tribunal, Delhi recently admitted a petition under Section 94(1) of Insolvency & Bankruptcy Code for initiation of insolvency process against a personal guarantor.

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