Can CIRP Be Initiated Against Both Borrower and Guarantor? Supreme Court Clarifies in ICICI Bank v Era Infrastructure
Can a financial creditor simultaneously initiate insolvency proceedings against a principal debtor and its corporate guarantor for the same debt, or must it choose between them, potentially sacrificing the very assurance a guarantee promises? This question fractured the jurisprudence of India’s insolvency tribunals for years, producing contradictory outcomes that left creditors strategically exposed and the sanctity of guarantees in limbo. […]
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