NCLAT Sets Aside Personal Guarantor Insolvency Orders

NCLAT sets aside NCLT orders initiating insolvency against personal guarantors to Palavi Synthetics Pvt Ltd.
Appeals centered on limitation dispute regarding guarantee invocation date versus application filing date.
Tribunal finds NCLT committed legal errors in limitation calculation and guarantee invocation interpretation.
Matter remanded to NCLT for fresh consideration of limitation issue with all evidence.