Without initiating CIRP against the principal borrower, it is open to the FC to initiate CIRP under section 7 against corporate guarantors as the creditor is also the FC qua corporate guarantor.
CS Professional · Insolvency and Bankruptcy - Law and Practice · PYQS · June 2024
Without initiating CIRP against the principal borrower, it is open to the FC to initiate CIRP under section 7 against corporate guarantors as the creditor is also the FC qua corporate guarantor.
Answer & Explanation:
State Bank of India Vs. Metenere Limited (Supreme Court)
Topics: Case Laws under IBC
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