Petition U/S 7 Of IBC Against Corporate Guarantor Cannot Be Admitted Unless Valid Delivery Of Guarantee Invocation Notice Is Established: NCLT Mumbai

The NCLT Mumbai ruled that a petition under Section 7 of the IBC against a corporate guarantor cannot be admitted unless a valid delivery of the guarantee invocation notice is established. This decision clarifies the procedural requirements for insolvency petitions. It ensures that guarantees are properly invoked. The ruling provides clarity on IBC proceedings.