NCLT Dismisses Patel Guarantors' Insolvency Petitions

NCLT Ahmedabad dismisses two insolvency petitions filed by personal guarantors to Ramdev International Castor Products under Section 94 of IBC.
Tribunal finds petitions constitute abuse of process under Section 65, filed after SARFAESI auction to stall recovery, imposing Rs 2 lakh cost each.
Demand notice dated 18.08.2025 was deemed valid guarantee invocation, but timing showed malicious intent to frustrate bank recovery.
Separate IA challenging SARFAESI auction also dismissed due to available statutory remedy before DRT.