NCLAT sets aside NCLT Mumbai's order admitting Canara Bank's insolvency application against personal guarantor Poonam Wadhera.
Appeal allowed as application filed on 08.11.2024 was time-barred, with limitation period expiring on 12.03.2024.
Supreme Court precedent established that Resolution Professional's claim admission doesn't constitute debt acknowledgment under Limitation Act.
Final outcome dismisses CP(IB)No.37/MB/2025 against the personal guarantor to Frost International Limited.