Can you proceed against the Corporate Guarantor before proceeding against the Corporate Debtor? NCLAT answers in this Judgment
January 10 2019
An NCLAT Bench comprising Chairperson Justice SJ Mukhopadhyaya, Member (Judicial) Justice A.I.S. Cheema and Member (Technical) Balvinder Singhhas held that Corporate Insolvency Resolution Process (CIRP) can be triggered against the corporate guarantor even if the corporate debtor is not in CIRP by itself.
Without initiating any Corporate Insolvency Resolution Process against the Principal Borrow…
Read the full article at: https://barandbench.com/ibc-corporate-guarantor-cirp-principal-borrower-nclat/