The OTS Proposal submitted by the Principal Borrower being under consideration before the High Court does not bar the Initiation of Personal Insolvency proceedings against the Personal Guarantor – Mohit Dewan Vs. Bank of Maharashtra and Anr. – NCLAT New Delhi

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If any Public depositor applies showing due of the debt claiming itself as operational creditor and the Resolution Professional or the Tribunal do not accept the claim on the ground that they are not financial creditor, we allow the appellant to raise the question before the Tribunal and if any adverse decision is given by the Tribunal, it will be open to the appellant to raise the issue before NCLAT- Hind Motors India Ltd. Vs. Adjudicating Authority NCLT, Chandigarh – NCLAT New Delhi

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