Personal Guarantor's Appeal Against Insolvency Process Under IBC Section 95 Fails as Creditor Rights Upheld Through Assignment

NCLAT dismissed appeal challenging initiation of Personal Insolvency Resolution Process under Section 95 of IBC. Court affirmed creditor's right to file application despite alleged lack of privity, holding assignment agreement and transfer of rights were binding. Personal guarantee terms established independent rights of creditors alongside Trust. Appellant's liability as guarantor was confirmed as co-extensive with principal debtor per Section 128 of Contract Act. NCLAT validated Resolution Professional's appointment, Board Resolution's authority, and Adjudicating Authority's adherence to natural justice principles. Court emphasized creditor need not first proceed against principal borrower before pursuing guarantor, citing established precedent on surety's concurrent liability. .....

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