Financial creditors can start insolvency proceedings against corporate guarantors u/s 7 without targeting the principal borrower first. https://www.taxtmi.com/highlights?id=44366 Without initiating any ‘Corporate Insolvency Resolution Process’ against the ‘Principal Borrower’, it is always open to the ‘Financial Creditor’ to initiate ‘Corporate Insolvency Resolution Process’ under Section 7 against the ‘Corporate Guarantors’, as the creditor is also the ‘Financial Creditor’ qua ‘Corporate Guarantor’. en-us Thu, 07 Feb 2019 13:33:34 +0530 Thu, 07 Feb 2019 13:33:34 +0530 TaxTMI RSS Generator Financial creditors can start insolvency proceedings against corporate guarantors u/s 7 without targeting the principal borrower first. https://www.taxtmi.com/highlights?id=44366 Without initiating any ‘Corporate Insolvency Resolution Process’ against the ‘Principal Borrower’, it is always open to the ‘Financial Creditor’ to initiate ‘Corporate Insolvency Resolution Process’ under Section 7 against the ‘Corporate Guarantors’, as the creditor is also the ‘Financial Creditor’ qua ‘Corporate Guarantor’. Highlights Insolvency and Bankruptcy Thu, 07 Feb 2019 13:33:34 +0530 https://www.taxtmi.com/highlights?id=44366