https://www.taxtmi.com/caselaws?id=427379 The Supreme Court upheld the concurrent findings of the NCLT and NCLAT, dismissing the appeal and confirming the initiation of Corporate Insolvency Resolution Process (CIRP) against Maharaja Theme Parks and Resorts Private Limited. The judgment reiterated that CIRP can be initiated against a corporate guarantor for loans extended to non-corporate entities, emphasizing the coextensive liability of the guarantor with the principal borrower. en-us Tue, 06 Sep 2022 00:00:00 +0530 Thu, 08 Sep 2022 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427379 The Supreme Court upheld the concurrent findings of the NCLT and NCLAT, dismissing the appeal and confirming the initiation of Corporate Insolvency Resolution Process (CIRP) against Maharaja Theme Parks and Resorts Private Limited. The judgment reiterated that CIRP can be initiated against a corporate guarantor for loans extended to non-corporate entities, emphasizing the coextensive liability of the guarantor with the principal borrower. Case-Laws Insolvency and Bankruptcy Tue, 06 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427379