Search Results for "Co-extensive Liability"

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Search Results for "Co-extensive Liability"

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High Court

Gujarat High Court Allows Appeals in Recovery Suits, Holding That Suits Against Guarantors Were Barred by Limitation. The court held that limitation for suit against guarantor runs from date of default by principal debtor, not from date of guarantee, under Article 55 of Limitation Act, 1963.

11 Mar 2026

The case involves three first appeals arising from a common judgment and decree passed by the City Civil Judge, Court No. 11, Ahmedabad, in Civil Suit...

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...

High Court

Bombay High Court Dismisses Bank's Petition in Guarantee Dispute Due to Lack of Privity of Contract. Guarantee Agreement Held Unenforceable as Principal Debtor Was Not a Party to the Contract Under Indian Contract Act, 1872.

31 Aug 2018

The petitioner, Dena Bank, filed a writ petition challenging the order of the Debts Recovery Appellate Tribunal (DRAT) dated 27.10.2015, which dismiss...

High Court

High Court of Bombay at Nagpur Allows Insurance Company's Appeal in Motor Accident Claim — Insurer Not Liable When Insured Exonerated. The Tribunal's order fastening liability solely on the insurer while exonerating the insured and owner was held to be legally unsustainable under Section 166 of the Motor Vehicles Act, 1988.

14 Nov 2017

The case arises from a motor accident claim petition filed under Section 166 of the Motor Vehicles Act, 1988, by the legal heirs of deceased Jaydev Me...

High Court

Bombay High Court Dismisses Petition Challenging Arbitral Award in Guarantee Enforcement Case. Personal Guarantors Held Liable Despite Principal Borrower's Corporate Insolvency Resolution Process Under Section 14 of IBC.

17 Feb 2015

The petitioners, Jamboo Kumar Jain and Praful Kumar Jain, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging...

High Court

Bombay High Court Allows SFC Petition for Enforcement of Guarantee Under Section 31(1)(aa) of SFC Act, 1951. Guarantor's Liability Held Co-extensive with Principal Debtor Despite Non-Enforcement Against Principal Debtor.

17 Jun 2005

The petitioner, SICOM Limited, a State Financial Corporation, filed a petition under Section 31(1)(aa) of the State Financial Corporation Act, 1951, s...

High Court

Bombay High Court Allows SFC Petition Against Guarantors Under Section 31(1)(aa) of SFC Act, 1951 — Guarantors Liable Despite Company's Winding Up. Guarantee is a separate contract and liability of guarantor is co-extensive with principal debtor under Section 128 of Indian Contract Act, 1872.

7 Jun 2005

The petitioner, SICOM Limited, a State Financial Corporation, filed a petition under Section 31(1)(aa) of the State Financial Corporation Act, 1951 ag...

High Court

Bombay High Court Allows SICOM's Petition Against Guarantors Under Section 31(1)(aa) of SFC Act — Guarantors' Liability Is Co-extensive with Principal Debtor, No Need to Exhaust Remedies Against Principal Debtor First

13 Apr 2005

The petitioner, M/s. SICOM Limited, a State Financial Corporation, filed two petitions under Section 31(1)(aa) of the State Financial Corporation Act,...

High Court

Bombay High Court Dismisses Bank's Arbitration Petitions Against Guarantors Due to Limitation and Lack of Arbitration Agreement. The court held that claims against guarantors were barred by limitation and that the arbitration clause in the loan agreement did not extend to guarantors who were not signatories.

30 Nov -0001

The case involves three arbitration petitions filed by Abhyudaya Co-operative Bank Ltd. against various respondents, including Rainproof Exports Pvt. ...

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