Mr. Ajay Chaturvedi, a shareholder of Yes Power & Infrastructure Ltd., filed an appeal against the order dated May 11, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Mumbai. The order admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 filed by JM Financial Asset Reconstruction Company Ltd. The appellant argued that no 'substituted service' was made, and the notice was not received. The appellant also contended that an application under Section 7 cannot be filed against a 'Corporate Guarantor'. The Financial Creditor had invoked the guarantee under the SARFAESI Act, 2002 on November 18, 2013.

Mr. Ajay Chaturvedi, a shareholder of Yes Power & Infrastructure Ltd., filed an appeal against the order dated May 11, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Mumbai. The order admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 filed by JM Financial Asset Reconstruction Company Ltd. The appellant argued that no 'substituted service' was made, and the notice was not received. The appellant also contended that an application under Section 7 cannot be filed against a 'Corporate Guarantor'. The Financial Creditor had invoked the guarantee under the SARFAESI Act, 2002 on November 18, 2013.