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2023 (9) TMI 1382 - AT - Insolvency and BankruptcyRejection of Section 7 Application - dismissed as barred under Section 10A of Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The liability of corporate guarantor to make the outstanding payment arose only when Corporate Guarantee was invoked vide Notice dated 12th June, 2020 as per the notice invoking the corporate guarantee. 16th June, 2020 was date on which default was committed which is a date admittedly covered by Section 10A prohibition. The Adjudicating Authority did not commit any error in rejecting Section 7 Application as barred by Section 10A. There are no merit in the Appeal - the Appeal is dismissed.
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