Punjab National Bank (Financial Creditor) initiated corporate insolvency resolution process against M/s. Dynamic Shells (India) Pvt. Ltd. (Corporate Debtor). The Adjudicating Authority admitted the application under Section 7 of the I&B Code. Two appeals were filed against this order: one by Shyam Sunder Bhatter, a guarantor of the Corporate Debtor, and another by M/s. Rockside Impex Pvt. Ltd. The appeals were filed with a delay of 15 days. The sole ground for the appeals was that the guarantors were not impleaded as party respondents in the insolvency proceedings. The court considered whether the guarantors were necessary parties at the time of admission of the application under Section 7.

Punjab National Bank (Financial Creditor) initiated corporate insolvency resolution process against M/s. Dynamic Shells (India) Pvt. Ltd. (Corporate Debtor). The Adjudicating Authority admitted the application under Section 7 of the I&B Code. Two appeals were filed against this order: one by Shyam Sunder Bhatter, a guarantor of the Corporate Debtor, and another by M/s. Rockside Impex Pvt. Ltd. The appeals were filed with a delay of 15 days. The sole ground for the appeals was that the guarantors were not impleaded as party respondents in the insolvency proceedings. The court considered whether the guarantors were necessary parties at the time of admission of the application under Section 7.