https://www.taxtmi.com/caselaws?id=407547 A corporate guarantor's liability under a guarantee for a disbursed credit facility is treated as financial debt under the Insolvency and Bankruptcy Code, 2016. Where the record shows default, supporting loan and guarantee documents, proof of service, and no disciplinary issue against the proposed resolution professional, the section 7 application is complete and the Adjudicating Authority may admit it. On the stated facts, the application was admitted, CIRP was commenced against the corporate debtor, the Interim Resolution Professional was appointed, and the section 14 moratorium followed. en-us Thu, 15 Apr 2021 00:00:00 +0530 Fri, 14 May 2021 08:32:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407547 A corporate guarantor's liability under a guarantee for a disbursed credit facility is treated as financial debt under the Insolvency and Bankruptcy Code, 2016. Where the record shows default, supporting loan and guarantee documents, proof of service, and no disciplinary issue against the proposed resolution professional, the section 7 application is complete and the Adjudicating Authority may admit it. On the stated facts, the application was admitted, CIRP was commenced against the corporate debtor, the Interim Resolution Professional was appointed, and the section 14 moratorium followed. Case-Laws Insolvency and Bankruptcy Thu, 15 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407547