Corporate guarantor's liability upheld, revocation invalid under IBC.

The National Company Law Appellate Tribunal (NCLAT) ruled that the corporate guarantor's liability remains valid, as the guarantees were irrevocable, unconditional, and continuous, making any unilateral revocation invalid. The surety's liability is co-extensive with the principal debtor unless specified otherwise. The Corporate Insolvency Resolution Process (CIRP) proceedings against the guarantor were deemed maintainable and filed within the limitation period. Additionally, adverse remarks against the Resolution Professional's conduct were found to violate natural justice principles, as no clarification was sought despite the provided disclaimer. .....

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