CIRP - Corporate Guarantee and Liability - The Appellate ...

Case Laws Insolvency and Bankruptcy

April 16, 2024

CIRP - Corporate Guarantee and Liability - The Appellate Tribunal acknowledged that the company had issued corporate guarantees to financial institutions. Despite the guarantee not being invoked, the Tribunal emphasized that the liability of the corporate guarantor remains intact. It cited clauses from the Guarantee Deed emphasizing that the rights of lenders against the guarantor remain in force regardless of any arrangements between lenders and other guarantors.

View Source

← Previous Next →

CIRP - Corporate Guarantee and Liability - The Appellate ...

Case Laws Insolvency and Bankruptcy

April 16, 2024

You may also like:

CIRP - Renewal of Bank Guarantee for customs duty exemption - When there is no guarantee with respect to the MPP status of the Non-Operational Units and since there are...

The National Company Law Appellate Tribunal, Principal Bench, New Delhi, addressed the validity of the Corporate Insolvency Resolution Process (CIRP) against a...

Rejection of Section 7 Application - NPA - Corporate Debtor unable to de-risk the live BGs within the time allowed - A settlement was reached between the parties, where...

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

Demand of service tax - providing services without consideration (free) to its associate companies - activity of giving corporate guarantee - The Show Cause Notice...

Dishonour of cheque - vicarious liability - liability of group companies - liability common Directors of the group, namely, Right Choice Group of Companies - Lifting of...

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...

Corporate insolvency resolution process (CIRP) initiated against corporate debtor and corporate guarantor. Financial creditor granted loan to corporate debtor, secured...

The case involved a dispute regarding the applicability of service tax on corporate guarantee fees u/s 65(12)(a)(ix) of the Finance Act. The tribunal held that providing...

CIRP - the Appellant has not received a single Claim from the date of initiation of the Corporate Debtor into CIRP. As the CoC itself is not constituted and in the light...

CIRP - personal Guarantor to Corporate Debtor - Australian National - lack of any Agreement of Guarantee - invalidity of any such Guarantee, even if issued - the...

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...

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...

Maintainability of petition seeking initiation of CIRP against Personal Guarantor/Respondent - invocation of Bank guarantee and time limitation - The case involved an...

Recovery of electricity dues of the Company - personal liability of the Directors of the Defaulter Company/Corporate debtor which went into insolvency - it is clear that...

Quick Updates: