https://www.taxtmi.com/caselaws?id=405851 Section 7 insolvency proceedings may be initiated against a corporate guarantor for the guaranteed debt even where the principal borrower is not a corporate person, because the guarantor's liability is coextensive with the borrower's default and the IBC definitions are broad enough to cover such liability. The application was also not barred by limitation: Article 137 applied, and a valid written acknowledgment within the limitation period, including the last acknowledgment dated 08.12.2018, renewed time under Section 18 of the Limitation Act, 1963. The appeal was disposed of, leaving the proceedings before the Adjudicating Authority undisturbed. en-us Fri, 26 Mar 2021 00:00:00 +0530 Mon, 29 Dec 2025 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405851 Section 7 insolvency proceedings may be initiated against a corporate guarantor for the guaranteed debt even where the principal borrower is not a corporate person, because the guarantor's liability is coextensive with the borrower's default and the IBC definitions are broad enough to cover such liability. The application was also not barred by limitation: Article 137 applied, and a valid written acknowledgment within the limitation period, including the last acknowledgment dated 08.12.2018, renewed time under Section 18 of the Limitation Act, 1963. The appeal was disposed of, leaving the proceedings before the Adjudicating Authority undisturbed. Case-Laws Indian Laws Fri, 26 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405851