Amended Section 60(2) under the Insolvency Code prompts review of parallel proceedings against guarantor and borrower.

The amended Section 60(2) of the Insolvency and Bankruptcy Code, 2016 was examined for its effect on the maintainability of parallel proceedings concerning the same claim against a guarantor or principal borrower. The tribunal considered whether the amendment required reconsideration of that issue in the insolvency context. Notice was directed to be issued to the respondent, and the matter was posted for admission.

---

---

Issues: Whether the amended Section 60(2) of the Insolvency and Bankruptcy Code, 2016 required reconsideration of the maintainability of parallel proceedings in respect of the same claim against the guarantor or principal borrower.

Outcome: Notice was directed to be issued to the respondent, and the matter was posted for admission.

---