Personal Guarantors Cannot Seek Disclosure Of Resolution Plan Details U/S 60(5) IBC Or Rule 11 Of NCLT Rules: NCLT Mumbai

The NCLT, Mumbai, has ruled that "personal guarantors cannot seek disclosure of resolution plan details" under "Section 60(5) or Rule 11 of the NCLT Rules." The court's decision, which is a significant victory for the government, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a company can be held responsible for the misdeeds of another person. The court's decision is a crucial reminder to all that they must be diligent in their dealings.