When no CIRP or liquidation proceedings of a Corporate Debtor is pending before the NCLT, whether an application for personal insolvency against a Personal Guarantor has to be filed before the NCLT? – Anita Goyal Vs. Vistra ITCL (India) Ltd. and Anr. – NCLAT New Delhi
The Hon’ble NCLAT referred the following judgments:
a. State Bank of India vs. Mahendra Kumar Jajodia, (2022) ibclaw.in 89 NCLAT
b. Mahendra Kumar Agarwal v. PTC India Financial Services Ltd. and Anr., (2023) ibclaw.in 488 NCLAT
c. Lalit Kumar Jain vs. Union of India & Ors. (2021) ibclaw.in 61 SC
d. Rohit Nath @ Rohit Rabindra Nath v. KEB Hana Bank Ltd. (2023) ibclaw.in 1207
e. Rohit Nath @ Rohit Rabindra Nath Vs. KEB Hana Bank Ltd. (2021) ibclaw.in 79 HC
f. State Bank of India v. V. Ramakrishnan and Anr., (2018) ibclaw.in 29 SC
g. Axis Trustee Services Ltd. vs. Brij Bhushan Singal (2022) ibclaw.in 239 HC
h. Aditya Birla Finance Ltd. v. Sarita Mishra (2024) ibclaw.in 1185 NCLT
i. Tata Capital Financial Services Ltd. vs. Arjun Agarwal, (2024) ibclaw.in 1223 NCLT
And decided the issue when no CIRP or liquidation proceedings of a Corporate Debtor is pending before the NCLT, whether an Application for personal insolvency against a Personal Guarantor has to be filed before the NCLT.
The Hon’ble Tribunal also held that judgments in Aditya Birla Finance Ltd. v. Sarita Mishra (2024) ibclaw.in 1185 NCLT and Tata Capital Financial Services Ltd. vs. Arjun Agarwal, (2024) ibclaw.in 1223 NCLT do not lay down correct law and are per incuriam.