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Indian Laws - Highlights / Catch Notes

Home Highlights June 2022 Year 2022 This

Corporate Debtor includes a corporate guarantor even if ...


Corporate Guarantors Are Corporate Debtors, Even If Principal Borrower Is Individual, Broadening Liability Scope in India.

June 14, 2022

Notes     Indian Laws

Corporate Debtor includes a corporate guarantor even if Principal Borrower being an individual/sole proprietorship. - Notes

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  1. CIRP - Action against corporate person (being a corporate debtor) concerning guarantee offered by it in respect of a loan account of the principal borrower, who had...

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

  3. Validity of possession notice - guarantee given by the Corporate Debtor - As a consequence of such default, the status of the guarantor metamorphoses into a debtor or a...

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  8. Admission of Section 7 Application of the Financial Creditor - Corporate Debtor / Guarantor failed to fulfil obligations - The tribunal noted the specifics of the...

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  10. Initiation of CIRP - liability of Guarantor of loan - acknowledgment of debt by the Principal Borrower shall be binding on the Guarantor or not - The Tribunal found no...

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

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