https://www.taxtmi.com/caselaws?id=426239 Writ jurisdiction was held ordinarily unavailable against SARFAESI measures where an effective statutory remedy was already pending before the DRT, so the petition was not entertained. The Court also stated that approval of a resolution plan under the Insolvency and Bankruptcy Code does not by itself discharge a personal guarantor, because the guarantor's liability flows from an independent contract and may survive corporate insolvency proceedings. On that basis, the bank's SARFAESI action was not barred, and the guarantor's liability remained to be determined under the relevant contractual and statutory framework. en-us Mon, 08 Aug 2022 00:00:00 +0530 Tue, 09 Aug 2022 20:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426239 Writ jurisdiction was held ordinarily unavailable against SARFAESI measures where an effective statutory remedy was already pending before the DRT, so the petition was not entertained. The Court also stated that approval of a resolution plan under the Insolvency and Bankruptcy Code does not by itself discharge a personal guarantor, because the guarantor's liability flows from an independent contract and may survive corporate insolvency proceedings. On that basis, the bank's SARFAESI action was not barred, and the guarantor's liability remained to be determined under the relevant contractual and statutory framework. Case-Laws Insolvency and Bankruptcy Mon, 08 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426239