NCLAT Dismisses Personal Guarantor Appeal on Limitation

NCLAT dismissed an appeal by a personal guarantor challenging the admission of insolvency proceedings initiated by NABARD.
The appeal contested the proceedings as time-barred, arguing limitation should run from 2016 or 2018 communications.
The Tribunal held the guarantee was validly invoked only on 03.08.2020, making the 2023 application within limitation.
The appellant, a former director, guaranteed a ₹6.39 crore loan to Smaat India Pvt Ltd. in 2013.