The admission of the application by the National Company Law Tribunal (NCLT) ensures moratorium on transactions of personal assets of the guarantor. But it does not give the resolution professional (RP) the right to take control of the personal assets of the guarantor. Following the ruling, the RP will invite claims from lenders and also validate them.
The admission of the application by the National Company Law Tribunal (NCLT) ensures moratorium on transactions of personal assets of the guarantor. But it does not give the resolution professional (RP) the right to take control of the personal assets of the guarantor. Following the ruling, the RP will invite claims from lenders and also validate them.
An alumnus of Government Law College, Mumbai (2008), and a member of the Indian Institute of Company Secretaries of India (ICSI), Pyasi started his career with the law firm Kartikeya & Associates in 2008, in the firms litigation team. Subsequently, he joined firms including Universal Legal and Krishnamurthy & Co. (K Law). In 2015, he joined the Delhi-headquartered firm Dhir & Dhir Associates Mumbai office.
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