NCLT Dismisses Canara Bank Personal Guarantor Petition

NCLT Hyderabad dismissed Canara Bank's petition seeking insolvency resolution against personal guarantor Mr. A.L. Bhooratnam for ₹495 crore debt.
Tribunal found insufficient evidence linking 2005 guarantee to debt claimed under new account created in 2013 without fresh guarantee.
Respondent successfully argued claim was barred by limitation as original account was declared NPA in 2006 and closed in 2013.
Case involved disputed debt acknowledgments, multiple OTS proposals, and parallel proceedings in DRT and corporate insolvency resolution.