NCLAT Allows SBI Appeals Against Personal Guarantors

NCLAT reverses NCLT Ahmedabad orders that dismissed SBI's insolvency applications against nine personal guarantors of Yogiraj Ginning.
The Tribunal rules that SBI's applications filed on 31.03.2022 were within limitation, with default date correctly cited as 24.12.2019.
NCLAT finds that SBI's SARFAESI notice dated 25.10.2019 validly invoked personal guarantees by demanding Rs 19 crore payment within 60 days.
All nine company petitions under Section 95 IBC are reinstated for fresh adjudication by NCLT under Section 100.