Can personal guarantors facing insolvency under Section 95, IBC submit resolutions plans for an MSME

In Varun Jajoo and Ors. v. Union of India and Ors. [W.P. (C) No. 981/2022], a Division Bench of the Delhi High Court has issued notice in a petition filed by the promoters and personal guarantors of a micro, small, medium enterprise (“MSME”) corporate debtor challenging the constitutional validity of Section 95 and Section 101 of the Insolvency & Bankruptcy Code, 2016 (“IBC”).