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2018 (1) TMI 1335 - Tri - Companies LawCorporate insolvency resolution process - financial debt - Held that:- RP would not merit any detailed consideration and the same are hereby rejected. The aforesaid detailed facts would further show that the parties have provided for the course to be adopted in the guarantee agreement in case of default by the principal borrower in relation to guarantee. It is well settled that the right of the parties under section 128 of the Indian Contract Act 1872 are subject to the terms of the agreement between the parties and hence the guarantor or the Resolution Professional are not entitled to raise an objection which goes against the express terms of guarantee agreement duly executed between the Financial Creditor and the ESSL Corporate Debtor. Therefore on that count also the objection raised by the RP are liable to be rejected. As a sequel to the above discussion we dispose of this application as per the following directions: (a) The applicant being a financial creditor has to be given its due place in the Committee of Creditor by permitting it to join the Corporate Insolvency Resolution Process initiated in the matter of ESSL - Corporate Debtor. (b) The applicant shall be entitled to have its voting rights determined as per its proportion.
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