The NCLAT upheld an NCLT order initiating insolvency proceedings against a personal guarantor. This decision involved Asif Ahmed Siddique, a guarantor for Nyka Steel. The tribunal found the guarantor’s liability extended beyond the initial capped amount. It also noted the guarantor signed the credit facility renewal in 2018.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.