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IBC - Approval Of A Resolution In Respect Of One Borrower Cannot Discharge A Co-Borrower : Supreme Court

IBC - Approval Of A Resolution In Respect Of One Borrower Cannot Discharge A Co-Borrower : Supreme Court

The Supreme Court observed that approval of a resolution in respect of one borrower cannot discharge a co-borrower.If there are two borrowers or if two corporate bodies fall within the ambit of...

22 Sep 2022 12:35 PM GMT
CIRP Can Be Initiated Against Corporate Guarantor Without Proceeding Against Principal Borrower: Supreme Court

CIRP Can Be Initiated Against Corporate Guarantor Without Proceeding Against Principal Borrower: Supreme Court

The Supreme Court held that Corporate Insolvency Resolution Process (CIRP) can be initiated against the Corporate Guarantor without proceeding against the principal borrower.The liability of the...

6 Sep 2022 12:51 PM GMT