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2021 (7) TMI 455 - AT - Insolvency and BankruptcyValidity of parallel proceeding filed against the ‘Principal Borrower’ - already CIRP had been initiated against the ‘Corporate Guarantor’ and the claim of the ‘Financial Creditor’ had already been accepted in the CIRP for the whole amount - HELD THAT:- Section 60(2) of IBC itself makes it clear that if CIRP or liquidation proceeding of a Corporate Debtor is pending before a National Company Law Tribunal, an Application relating to Insolvency Resolution of a Corporate Guarantor or Personal Guarantor, as the case may be, of such Corporate Debtor is filed it shall be filed before such National Company Law Tribunal - This Section speaks for itself that the parallel proceedings against borrower and guarantor are maintainable. Appeal disposed off.
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