If no invocation of Personal Guarantee which is mandatory to prefer the application under Section 94 of IBC, the application is not maintainable – Santosh Kumar Dhirajlal Pathak Vs. Technology Development Board and Ors. – NCLT Ahmedabad Bench

Hon’ble NCLT Ahmedabad Bench held that as there is no invocation of guarantee which is mandatory to prefer the application under Section 94 of IBC, the application is not maintainable. Further, the Bench held that applicant produced additional document at much belated stage and that too after 2 years 4 months from the date of the filing of report of RP under Section 99 of IBC, 2016. For filing documents no permission of the tribunal was sought by the applicant. There is no pleading about these documents in the petition. Hence, this document cannot be relied upon at this stage while passing an order under Section 100 of IBC, 2016.

Related Posts

Scroll to Top