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IBC - Highlights / Catch Notes

Home Highlights March 2021 Year 2021 This

CIRP - Action against corporate person (being a corporate ...

Insolvency and Bankruptcy

March 30, 2021

CIRP - Action against corporate person (being a corporate debtor) concerning guarantee offered by it in respect of a loan account of the principal borrower, who had committed default - Upon default committed by the principal borrower, the liability of the company (corporate person), being the guarantor, instantly triggers the right of the financial creditor to proceed against the corporate person (being a corporate debtor) - SC

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