NCLT Dismisses Canara Bank's Guarantor Insolvency Petition

NCLT Hyderabad dismissed Canara Bank's petition under Section 95 IBC seeking insolvency resolution against personal guarantor A.D. Vamsi Mohan.
The bank claimed Rs 495.09 crore debt from the guarantor of corporate debtor A.L. Sudarshan Constructions Company Ltd.
Tribunal found no clear nexus between 2005 guarantee and debt claimed from 2013 account, citing material gaps in documentation.
The ruling highlights critical evidence requirements for enforcing personal guarantees under IBC against time-barred claims.