NCLT Dismisses Canara Bank's Personal Guarantor Insolvency Petition

NCLT Hyderabad dismissed Canara Bank's petition under Section 95 of IBC seeking initiation of insolvency resolution against personal guarantor Mr. A.B. Madhav.
The bank claimed Rs. 495.09 crore dues from the guarantor of corporate debtor A.L. Sudershan Constructions, classified NPA in 2006.
Tribunal found no clear nexus between 2005 guarantee and 2013 restructured debt account, citing document gaps and inconsistencies.
The dismissal was based on failure to establish legally ascertainable liability from the original guarantee executed by respondent.