Protection of IBC is only applicable to corporate debtors and not to Person Who drawn cheque in Individual capacity: Allahabad HC

The Allahabad High Court has ruled that the "protection of the IBC is only applicable to corporate debtors and not to a person who has drawn a cheque in an individual capacity." The court clarified that the moratorium under the IBC does not extend to the personal liabilities of a director or a guarantor. This decision provides clarity on the scope of the IBC's protection, ensuring that individuals who are liable for a company's debt cannot use the insolvency process as a shield.