It is still a matter of debate as to whether NCLT or DRT exercises jurisdiction for initiation of Insolvency Resolution Process or Bankruptcy Process against the Personal Guarantor to the Corporate Debtor when there is no pending CIRP or Liquidation Process against such Corporate Debtor.
In this episode Mr Kunwarpreet Singh, Partner at Prakul & Kunwarpreet LLP (P&K) explains the current position of law in this regard!