NCLAT Sets Aside NCLT Order Admitting Section 95 Applications

The NCLAT set aside the NCLT order admitting Section 95 applications against personal guarantors, citing a violation of interim moratorium rules.
The court held that applications filed during an interim moratorium are non-est in law, but allowed the financial creditor to file fresh applications.
The case involved personal guarantors of UM Automotive Pvt. Ltd. and a default on non-convertible debentures.