The NCLAT held that a Form B demand notice cannot substitute invocation of a personal guarantee and that proceedings under Section 95 IBC against a personal guarantor are not maintainable without prior contractual invocation.

The NCLAT, New Delhi ruled that admission of personal insolvency proceedings under the IBC without considering a reply on record and submissions advanced violates principles of natural justice and cannot be sustained in law.

NCLAT ruled that exclusion of a solitary invoice falling within the Section 10A suspension period does not bar initiation of Section 9 proceedings when remaining operational defaults arose outside the prohibited period.

The National Company Law Appellate Tribunal (NCLAT) held that a successful auction purchaser is not liable for claims that existed prior...

The National Company Law Appellate Tribunal (NCLAT) declined to entertain the appeal, observing that the matter concerning the admission...