Corporate Insolvency Resolution Process (CIRP) against guarantor ...

Case Laws Insolvency and Bankruptcy

May 30, 2019

Corporate Insolvency Resolution Process (CIRP) against guarantor - corporate debtor admittedly being corporate guarantor to the money borrowed by the principal borrowers against payment of interest, it is a financial debt falling under Clause 8(i) - the person in default u/s 5(8)(i) is a company as envisaged under Section 3(7) of the Code, therefore this creditor can initiate section 7 proceedings against this corporate debtor

View Source

← Previous Next →

Corporate Insolvency Resolution Process (CIRP) against guarantor ...

Case Laws Insolvency and Bankruptcy

May 30, 2019

You may also like:

CIRP Proceedings against the Personal Guarantors - the ‘Adjudicating Authority’ / ‘Tribunal’, has ‘jurisdiction’, to ‘entertain’/’initiate’, the ‘Insolvency Proceedings’...

Initiation of insolvency resolution of a personal guarantor of the Corporate debtors - The law doesn't envisage that the insolvency resolution of the personal guarantor...

Suspension of initiation of CIRP - On the basic principle of statutory interpretation, the provision of Section 10A is capable of only one meaning that is suspension of...

Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019

Initiation of CIRP - Personal Guarantors to Corporate Debtors - an irrevocable Deed of Guarantee has been signed between the SBI led Consortium and the Personal...

The Noida authority had terminated the lease deed of the subject land prior to the commencement of the Corporate Insolvency Resolution Process (CIRP) of the Corporate...

Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019

The Appellate Tribunal held that the Annual Mine Closure Cost (AMCC) deposited by the Corporate Debtor in an Escrow Account belongs to the Corporate Debtor and cannot be...

Without initiating any ‘Corporate Insolvency Resolution Process’ against the ‘Principal Borrower’, it is always open to the ‘Financial Creditor’ to initiate ‘Corporate...

Without initiating any ‘Corporate Insolvency Resolution Process’ against the ‘Principal Borrower’, it is always open to the ‘Financial Creditor’ to initiate ‘Corporate...

Initiation of CIRP - Personal Guarantors to Corporate Debtors failed to make repayment of guarantee undertaken - existence of debt and dispute or not - an application...

Insolvency proceedings against the Personal Guarantors - Vires and validity of a notification dated 15.11.2019 issued by the Central Government - It is clear that...

Rejection of the simultaneous claim by the Resolution Professional of the Corporate Debtor - Claim filed by the Applicant with respect to the corporate guarantee given...

Initiation of CIRP - Corporate Debtor failed to make repayment of its debt - the belatedly raised dispute without establishing nexus and relevance cannot be termed as...

Initiation of CIRP - It is clear that Respondent ‘Eastern Embroidery Collections Private Limited’ was the Corporate Guarantor of the Principal Borrower ‘Eastern...

Quick Updates: