Corporate Guarantor Appeal Dismissed; No Claims Against New Management Under IBC, Section 140 Inapplicable.

The SC dismissed the appeal, determining no basis to challenge the impugned judgment. The appellant, as a corporate guarantor, is not entitled to claims against new promoters/management under the IBC. Section 140 of the Contract Act, 1872, does not apply. All pending applications will be disposed of accordingly.

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The Supreme Court dismissed the appeal as it found no good ground to interfere with the impugned judgment. The appellant, Skil Infrastructure Limited, as a corporate guarantor, cannot claim against the new promoters/management under the Insolvency and Bankruptcy Code. Section 140 of the Contract Act, 1872 is not applicable in this case. Pending applications will be disposed of.

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