https://www.taxtmi.com/caselaws?id=386575 The majority judgment held that the Corporate Debtor fulfilled its obligations under the guarantee by infusing additional equity through a merger, exceeding the required amount. Consequently, the court dismissed the appeal, finding no debt due and rejecting the application under Section 7 of the I&B Code. In contrast, the dissenting judgment disagreed, stating that the Corporate Debtor failed to meet the equity infusion obligation, leading to a debt and default. The dissent allowed the appeal, directing the initiation of Corporate Insolvency Resolution Process against the Corporate Debtor. en-us Wed, 25 Sep 2019 00:00:00 +0530 Thu, 03 Oct 2019 06:08:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386575 The majority judgment held that the Corporate Debtor fulfilled its obligations under the guarantee by infusing additional equity through a merger, exceeding the required amount. Consequently, the court dismissed the appeal, finding no debt due and rejecting the application under Section 7 of the I&B Code. In contrast, the dissenting judgment disagreed, stating that the Corporate Debtor failed to meet the equity infusion obligation, leading to a debt and default. The dissent allowed the appeal, directing the initiation of Corporate Insolvency Resolution Process against the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Wed, 25 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386575