Mentioning Personal Guarantor as “Director” in SARFAESI demand notice cannot frustrate S. 95 IBC proceedings if terms of guarantee deed are satisfied: NCLAT
The Tribunal clarified that whether a SARFAESI notice amounts to invocation of a personal guarantee depends entirely on the contractual terms governing the guarantee and the language of the demand notice. Courts must examine the substance of the communication rather than its form or the designation assigned to the guarantor.