Search Results for "Guarantor's Liability"

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Search Results for "Guarantor's Liability"

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High Court

High Court of Karnataka Allows Appeal Against Injunction Restraining Bank from Enforcing Corporate Guarantee. The court set aside the injunction as the guarantee deed was unconditional and the bank had a prima facie case under Order 39 Rules 1 and 2 of CPC, enabling it to proceed under SARFAESI Act and IBC.

17 Feb 2026

The appeal arose from an order dated 25.07.2024 passed by the LXXXV Additional City Civil and Sessions Judge, Bengaluru (Commercial Court) in I.A. No....

Tribunals

NCLAT Allows Personal Guarantor's Appeal in Insolvency Case — Remands for Fresh Consideration of Section 94 Application. The Tribunal held that the Adjudicating Authority erred in dismissing the CP without considering the merits of the application under Section 94 of the Insolvency and Bankruptcy Code, 2016.

1 Jan 2025

The present appeal was filed by Syed Sirajis Salikin Khadri, the personal guarantor of Infra Dredge Services Private Limited, against an order dated 0...

Tribunals

NCLAT Allows Appeal Against Exclusion of Personal Guarantors from CoC in CIRP of Corporate Debtor — Re-constitution of Committee of Creditors Set Aside. Personal Guarantors Are Not Members of Committee of Creditors Under Section 21(2) of Insolvency and Bankruptcy Code, 2016.

15 Jul 2024

The National Company Law Appellate Tribunal (NCLAT) heard an appeal against an order of the Adjudicating Authority (NCLT, Chandigarh Bench) dated 01.0...

High Court

Supreme Court Upholds Financial Creditor in Insolvency Petition Based on Balance Sheet Acknowledgement Under Limitation Act. The Court held that entries in signed balance sheets constitute acknowledgement of debt under Section 18 of the Limitation Act, 1963, extending the limitation period for applications under Section 7 of the Insolvency and Bankruptcy Code, 2016, and that defects in the application regarding the date of default are curable.

15 Apr 2021

The dispute arose from an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by Asset Reconstruction Company (India) ...

High Court

Karnataka High Court Quashes Possession Notice Against Guarantor in SARFAESI Act Case — Bank Must Exhaust Remedies Against Borrower First. Guarantor's Property Cannot Be Proceeded Against Without First Proceeding Against Principal Borrower Under Section 13(2) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

12 Apr 2018

The petitioner, Mahesh S/o Hemadreppa Sajjanaar, filed a writ petition challenging a possession notice dated 06.03.2017 issued by the Authorized Offic...

High Court

Bombay High Court Allows Revision in Chit Fund Recovery Case: Sureties Cannot Be Proceeded Against When Suit Abates Against Principal Debtor. The court held that in a composite suit against borrower and sureties, abatement against the principal debtor due to his death extinguishes the liability of sureties under Section 37 of the Indian Contract Act, 1872.

13 Jun 2017

The case involves a civil revision application filed by Vinod s/o Chhaganlal Daga, who was original defendant no.3 and judgment debtor no.3 in executi...

High Court

Bombay High Court Allows Writ Petition in Cooperative Loan Recovery Case — Guarantor's Liability Upheld Despite Borrower's Death. Notice of hearing under Section 101 of Maharashtra Cooperative Societies Act, 1960 restored as guarantor's liability is co-extensive and continues after death of principal debtor.

18 Mar 2016

The petitioner, Sunil Sitaram Mahajan, filed a writ petition challenging the order dated 20.01.2015 passed by the Divisional Joint Registrar, Cooperat...

High Court

High Court of Karnataka Dismisses Second Appeal in Recovery of Money Suit — Guarantor Liability Upheld. Defendant's challenge to concurrent findings on loan guarantee fails as no substantial question of law arises under Section 100 CPC.

12 Aug 2015

The respondent-plaintiff, Karnataka Vikas Grameen Bank, filed a suit (O.S. No.225/1999) against the appellant-defendant for recovery of Rs.20,355/- wi...

High Court

Bombay High Court Dismisses Debtors' Motion to Set Aside Insolvency Notice in Consent Decree Dispute. Failure to Pay Agreed Amount by Stipulated Date Renders Debtors Liable for Full Decretal Amount Under Presidency Towns Insolvency Act, 1909.

13 Aug 2010

The petitioning creditor, Videocon Industries Ltd., filed Suit No. 1891 of 2000 against M/s Akar Laminators and the two judgment debtors, V.T. Seth & ...

High Court

Bombay High Court Allows Appeal Against Acquittal in Cheque Dishonour Case — Presumption Under Section 139 of Negotiable Instruments Act Not Rebutted. The court held that the accused failed to rebut the statutory presumption that the cheque was issued for discharge of a debt or liability, leading to conviction under Section 138 of the Negotiable Instruments Act, 1881.

19 Sep 2006

The appellant-complainant filed a complaint under Section 138 of the Negotiable Instruments Act, 1881, alleging that the accused-respondent issued a c...

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