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2022 (3) TMI 1225 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH, NEW DELHIMaintainability of application - guarantee with regard to facility agreement was given - facility agreement was subsequently renewed and extended - Application under Section 7 filed on the basis of the subsequent facility dated 14.12.2017 - whether the Appellant guarantee shall continue to the subsequent facility? - HELD THAT:- On reading of the guarantee executed on 10.10.2016 by the Appellant and the facility agreement executed on 14.12.2017, no error is found in the view taken by the Adjudicating Authority that the guarantee executed by the Appellant shall continue even for the facility agreement dated 14.12.2017. No error has been committed by the Adjudicating Authority in the impugned order by admitting the Application under Section 7. Learned Counsel for the Appellant submits that there is variation of the contract, therefore, the guarantee could not enure with regard to the subsequent contract - on going through facility agreement and guarantee deed, it is found that the guarantee continues and also apply to subsequent renewal of the facility agreement. There are no substance in the arguments of the Learned Counsel for the Appellant - appeal dismissed.
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