https://www.taxtmi.com/caselaws?id=421758 The appeal was dismissed by the Supreme Court, upholding the validity of the Corporate Guarantee and its invocation. The Court found the Corporate Debtor liable for defaulting on a sum exceeding Rs. 1 Crore. The Financial Creditor's application was deemed consistent and within the period of limitation. The Court rejected the argument that the application was barred under Section 10A of IBC, 2016, as the default predated the Covid-19 pandemic. Consequently, the Corporate Insolvency Resolution Process was initiated against the Corporate Debtor. en-us Mon, 25 Apr 2022 00:00:00 +0530 Sun, 01 May 2022 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421758 The appeal was dismissed by the Supreme Court, upholding the validity of the Corporate Guarantee and its invocation. The Court found the Corporate Debtor liable for defaulting on a sum exceeding Rs. 1 Crore. The Financial Creditor's application was deemed consistent and within the period of limitation. The Court rejected the argument that the application was barred under Section 10A of IBC, 2016, as the default predated the Covid-19 pandemic. Consequently, the Corporate Insolvency Resolution Process was initiated against the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Mon, 25 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421758