2019 (2) TMI 2010 - SC - Insolvency and Bankruptcy

Initiation of Corporate Insolvency Resolution Process against the two Corporate Guarantors - Principal Borrower is not a Corporate Debtor or Corporate Person - Section 7 of the I B Code - initiation of the process against two Corporate Guarantors simultaneously for the same set of debt and default - HELD THAT - Appeal is admitted.

Summary

The Supreme Court allowed the application seeking exemption from filing a certified copy of the impugned judgment. The appeal was admitted, and a counter affidavit was ordered to be filed. Status quo was to be maintained by the parties until further orders. The case was tagged with Civil Appeal No.878 of 2019.