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2022 (3) TMI 599 - Tri - Insolvency and BankruptcyViolation of principles of natural justice - no proper notice issued to the Personal Guarantor by the Hon'ble Tribunal in terms of Rule 37 of the NCLT Rules, 2016 - HELD THAT:- In the present case, the applicant filed its application under section 95 of IBC, 2016 in Form C and served a copy of the application to the Respondent vide email dated 28.07.2021. This therefore acts as a notice to the Personal Guarantor for securing his presence in reference to the Interim Moratorium which has commenced. The applicant in the present application has submitted that the Tribunal heard the matter in the absence of appropriate representation on behalf of Personal Guarantor and reserved the same for orders. The present application, therefore has been filed by the personal guarantor to defeat the objects of IBC by raising disputes even after the service of Limited Notice before the receipt of report from Resolution Professional under section 99 of IBC. Once the Resolution Professional is appointed and the report is filed by the Resolution Professional under section 99 of IBC, 2016 the Personal Guarantor will be given an opportunity of hearing by the Tribunal and the above-mentioned preliminary objections can be raised before a final decision is made by the Tribunal. Raising any objections at this stage of adjudication of application is premature and will give rise to double hearings. Application disposed off.
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