Initiation of CIRP - claim against Corporate Debtor second time ...

Corporate Insolvency Resolution Process cannot be initiated twice on same claims; guarantors remain liable u/s 14.

November 26, 2020

Case Laws Insolvency and Bankruptcy AT

Initiation of CIRP - claim against Corporate Debtor second time on the same set of claims, initially made on principal borrower - The object of the Code is not to allow such guarantors to escape from an independent and coextensive liability to pay off the entire outstanding debt, which is why Section 14 is not applied to them.- AT

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Initiation of CIRP - claim against Corporate Debtor second time ...

Corporate Insolvency Resolution Process cannot be initiated twice on same claims; guarantors remain liable u/s 14.

November 26, 2020

Case Laws Insolvency and Bankruptcy AT

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