Search Results for "personal guarantor"

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Bombay High Court Allows Appeals by Acquiring Body in Land Acquisition Compensat...
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Search Results for "personal guarantor"

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High Court

Bombay High Court Allows Summary Suit Against Principal Borrower Despite Moratorium Against Guarantors Under IBC. The court permitted the plaintiff to proceed only against defendant no.1 (principal borrower) while reserving rights against guarantors under moratorium.

6 Apr 2026

The plaintiff, IL & FS Financial Services Limited, filed a commercial summary suit under Order XXXVII of the Code of Civil Procedure, 1908 to recover ...

High Court

Madras High Court Allows TIIC's Recovery Petition Against Guarantors in SFC Act Case — Guarantors Held Jointly and Severally Liable Despite Company's Winding Up. Liability of Guarantors Under Sections 31(a) and 31(aa) of State Financial Corporations Act, 1951 Survives Liquidation of Principal Borrower and Receipt of Amount from Official Liquidator.

7 Jan 2025

The petitioner, Tamil Nadu Industrial Investment Corporation Limited (TIIC), a State Financial Corporation, filed an original petition under Sections ...

Tribunals

NCLAT Allows Section 95 Application Against Personal Guarantors in IBC Case — Limitation Period for Filing Application Under Section 95 Commences from Date of Default in Demand Notice Under Guarantee Contract, Not from Date of NCLT Order Admitting Corporate Debtor. The court held that the limitation for filing an application under Section 95 of the Insolvency and Bankruptcy Code, 2016 against a personal guarantor runs from the date of default in the demand notice under the guarantee contract, and not from the date of the NCLT order admitting the corporate debtor.

22 Oct 2024

The National Company Law Appellate Tribunal (NCLAT) at Chennai, by a common judgment dated 22.10.2024, allowed two appeals filed by the State Bank of ...

Supreme Court

Supreme Court Dismisses Appeal Against Initiation of CIRP Against Corporate Debtor Despite Payment by Guarantor's Resolution Applicant. Right of Subrogation Under Section 140 of Indian Contract Act, 1872 Not Available Where Resolution Plan Extinguishes Guarantee and No Payment of Entire Debt.

23 Jul 2024

The case involves an appeal against the initiation of Corporate Insolvency Resolution Process (CIRP) against the 2nd respondent, Gujarat Hydrocarbon a...

High Court

Delhi High Court Allows Arbitration Against Guarantors Despite Moratorium Under Section 96 of IBC — Moratorium Does Not Extend to Co-Guarantors Not Covered by NCLT Orders. The court held that the moratorium under Section 96 is debt-centric and personal to the debtor, and does not bar proceedings against other co-guarantors.

20 Jun 2024

The petitioner, a finance company, granted channel finance facility to Sterling Motor Company (SMC), a proprietorship of Tarun Kapoor. Tarun Kapoor, P...

Supreme Court

Supreme Court Dismisses Appeal in Dishonour of Cheque Case Under Negotiable Instruments Act, 1881 Despite Insolvency Proceedings. Criminal Liability Under Section 138 Negotiable Instruments Act, 1881 Continues Simultaneously with Insolvency Resolution Under Insolvency and Bankruptcy Code, 2016 as Proceedings are Penal and Not Covered by Moratorium Under Section 14.

15 Mar 2023

The dispute arose from a dishonoured cheque issued by M/s Rainbow Papers Limited, a company, to Tourism Finance Corporation of India Limited, a public...

Supreme Court

Supreme Court Allows Bank's Appeal for Return of Original Documents in SARFAESI Auction Dispute. The Court held that the bank is entitled to return of original title deeds deposited in a pending DRT proceeding to hand over to the auction purchaser, as the sale under SARFAESI Act is independent and the validity of mortgage can be adjudicated using photocopies.

1 Jan 2020

The Supreme Court allowed the appeal filed by the State Bank of India against the High Court order that had refused to return original documents depos...

High Court

Bombay High Court Grants Interim Injunction Restraining Bank from Enforcing Guarantee and Pledge Against Company Pending Company Law Board Proceedings. Alleged Fraudulent Assumption of Liability by Directors Without Shareholder Consent Raises Serious Questions to be Tried.

15 Jul 2013

The applicant, Rajinder Kumar Malhotra, filed an application in a pending company appeal seeking an interim injunction to restrain HDFC Bank from reco...

High Court

Bombay High Court Dismisses Stay Application in Arbitration Matter — Consent Order Not Stayed as No Prima Facie Case Made Out. Court held that a consent order passed under Section 9 of the Arbitration and Conciliation Act, 1996 cannot be stayed unless fraud or lack of jurisdiction is shown.

13 Feb 2013

The petitioner, Tata Capital Financial Services Limited, a non-banking finance company, had sanctioned an invoice discounting facility of Rs. 20,00,00...

Tribunals

NCLAT Dismisses Appeal of Personal Guarantor Against Initiation of Insolvency Resolution Process Under IBC. The Tribunal held that the Adjudicating Authority correctly admitted the application under Section 95 of the IBC as the debt was due and default occurred, and the personal guarantor's objections regarding limitation and pending proceedings were not sustainable.

30 Nov -0001

The appeal was filed by Mahdoom Bava Bahrudeen Noorul Ameen (Appellant) under Section 61(3) read with Section 61(1) of the Insolvency and Bankruptcy C...

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