2019 (1) TMI 1742 - SC - Insolvency and Bankruptcy

Corporate Insolvency Resolution Process - Whether the Axis Bank Ltd. was also Counter Corporate Guarantor comes within the meaning of Financial Creditor as defined under Section 5(7) (8) of I B Code? - It was held that maturity of claim or default of claim or invocation of guarantee for claiming the amount has no nexus with filing of claim pursuant to public announcement made under Section 13(1)(b) r/w Section 15(1)(c) or for collating the claim under Section 18(1)(b) or for updating claim under Section 25(2)(e) - HELD THAT - The appeal is dismissed.

Summary

The Supreme Court of India dismissed Civil Appeal Nos. 9090-9091/2018 and Civil Appeal No. 10134/2018. Appellant can raise all points before the appropriate forum if advised.