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        Case ID :
        Insolvency and Bankruptcy

        Rejection of claim by the Resolution Professional - The...

        Claim Rejection Upheld: No Guarantee by Corporate Debtor for Obligors' Obligations Under Debenture Trust Deed.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Rejection of claim by the Resolution Professional - The Agreement was executed in reference to Clause 7.5(b) of the Debenture Trust Deed and the Agreement was only of for the purpose of creating additional security. The RIHPL being party to the Agreement dated 29.03.2019, the additional security as given under the Agreement can be enforced as per Clause 6 of the Agreement. Giving of additional security by Agreement dated 29.03.2019 cannot be read to mean that the Corporate Debtor has given any guarantee in reference to the secured obligations of the Obligors under the Debenture Trust Deed. - The Resolution Professional did not commit any error in refusing to admit the claim of the Appellant - AT
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