Case Law Analysis
|National Company Law Appellate Tribunal
Section 60(2) IBC | Personal Guarantor Insolvency Must Be Filed Before Bench Hearing Corporate Debtor's CIRP : NCLAT (PB)
The NCLAT Principal Bench ruled that Section 60(2) IBC mandates personal guarantor insolvency proceedings to be heard by the same NCLT bench adjudicating the corporate debtor's CIRP. The tribunal upheld the New Delhi Principal Bench's refusal to transfer a guarantor's case to Chandigarh, confirming that jurisdiction vests exclusively with the bench seized of the main corporate insolvency process.