https://www.taxtmi.com/caselaws?id=112712 The court dismissed the writ petition filed by directors and guarantors of a company in liquidation challenging the rejection of their application under section 446(1) and (3) of the Companies Act, 1956. The court held that the guarantors could not evade their liability to pay the debt owed to the Bank, emphasizing that the suit was against the guarantors themselves and not the company. The judgment reaffirmed the guarantors' obligation to pay the debt even in the context of the company being in liquidation. en-us Wed, 19 Nov 2008 00:00:00 +0530 Tue, 01 May 2012 14:28:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112712 The court dismissed the writ petition filed by directors and guarantors of a company in liquidation challenging the rejection of their application under section 446(1) and (3) of the Companies Act, 1956. The court held that the guarantors could not evade their liability to pay the debt owed to the Bank, emphasizing that the suit was against the guarantors themselves and not the company. The judgment reaffirmed the guarantors' obligation to pay the debt even in the context of the company being in liquidation. Case-Laws Companies Law Wed, 19 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112712