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TMI Blog2023 (8) TMI 1636X X X X Extracts X X X X X X X X Extracts X X X X ..... ra, Member (Technical) And Ajai Das Mehrotra, Member (Technical) For the Appellant: Mr. Siddharth Sharma, Advocate. For the Respondents : Mr. Adarsh Ramanujan, Mr. Lzafeer Ahmad BF, Mr. Skanda Shekhar, Advocates. Mr. Abhishek Anand, Mr. Karan Kohli, Mr. Vaibhav and Ms. Lubhanshi Rai, Advocates for IRP. ORDER Heard learned counsel for the Appellant. This Appeal has been filed against order date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thority has relied on judgment of this Tribunal in "Athena Energy" whereas judgment of the Coordinate Bench in Vishnu Kumar Agarwal's Case has taken the view that simultaneous proceeding against the Principal Borrower and the Corporate Guarantor cannot proceed. He further submits that documents of corporate guarantee was not placed on the record and not examined by the Adjudicating Authority. 4. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... view that the said reply in no manner dispute the existence of Corporate Guarantee. We are of the view that Appellant cannot be allowed to raise the issue of non-filing of the Corporate Guarantee on the record when the existence of Corporate Guarantee was not even disputed in the proceeding. 7. Insofar as submission of the Appellant that simultaneous proceeding cannot be initiated against the Pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itiated against both the Principal Borrower and Corporate Guarantor and there is no inhibition in proceeding against the Corporate Guarantor although proceeding against Principal Borrower under Section 7 was admitted. We are of the view that no error has been committed by the Adjudicating Authority in admitting Section 7 application against the Corporate Guarantor. There is no merit in the Appeal. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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