TMI Blog2021 (7) TMI 455X X X X Extracts X X X X X X X X Extracts X X X X ..... y 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. - Company Appeal (AT) (Insolvency) No. 394 of 2021 - - - Dated:- 9-7-2021 - [Justice A.I.S. Cheema] The Officiating Chairperson And [Dr. Alok Srivastava] Member (Technical) For the Appellant : Mr. Rahul Chitnis, Mr. Subir Kumar, Ms. Disha Shah, Advocates. For the Respondents : Mr. Chitranshul A Sinha, Mr. Jaskaran Singh Bhatia, Advocate for R1. Mr. Bindu Bhatia, Advocate for RP. ORDER (Through Virtual Mode) He ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itten Submissions: - The claim of ₹ 150 crores sought by the Petitioner in the present proceedings against the Corporate Debtor has been admitted in its entirety in the Corporate Insolvency Resolution Process (hereinafter referred to as CIRP ) OF Housing Development and Infrastructure Limited (Corporate Guarantor to the loan secured by present Corporate Debtor) (hereinafter referred to as HDIL ). The Petitioner has, with mala fide intention, not disclosed such factual admitted position in the Form I filed to initiate CIRP process against the Corporate Debtor herein. The Respondent relies upon the judgment of the Hon ble NCLAT in the case of Dr. Vishnu Kumar Agarwal v. M/s. Piramal Enterprises Ltd. [Company Appeal No. 346 of 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Insolvency) No. 633 of 2020 dated 24th November, 2020] was per incuriam and that a contrary view was taken by the Co-ordinate Bench and it is argued that the Appellant- Corporate Debtor had a right and the Adjudicating Authority had a duty to answer the submissions made by the Corporate Debtor. The Learned Counsel referred to contents of the judgment to point out that the Adjudicating Authority referred to the arguments but while recording their findings did not deal with two judgments to say why the Adjudicating Authority was not acting upon the judgment in the matter of Dr. Vishnu Kumar Agarwal v. M/s. Piramal Enterprises Ltd. . 6. Having gone through the record and having heard Learned Counsel for the Appellant at the stage of admi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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