https://www.taxtmi.com/caselaws?id=373166 The Tribunal dismissed the appeal against the order admitting the application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Appellant's contentions regarding 'substituted service' and the inclusion of 'Corporate Guarantors' under the definition of 'Financial Creditor' were rejected. The Tribunal upheld that the guarantee invoked under the SARFAESI Act against the Corporate Debtor was valid. Despite issues with notice service, the Tribunal found no grounds for remitting the case, as the Corporate Debtor had defaulted on debt payment. The appeal was dismissed without costs awarded. en-us Thu, 29 Nov 2018 00:00:00 +0530 Tue, 08 Jan 2019 07:58:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373166 The Tribunal dismissed the appeal against the order admitting the application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Appellant's contentions regarding 'substituted service' and the inclusion of 'Corporate Guarantors' under the definition of 'Financial Creditor' were rejected. The Tribunal upheld that the guarantee invoked under the SARFAESI Act against the Corporate Debtor was valid. Despite issues with notice service, the Tribunal found no grounds for remitting the case, as the Corporate Debtor had defaulted on debt payment. The appeal was dismissed without costs awarded. Case-Laws Insolvency and Bankruptcy Thu, 29 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373166