https://www.taxtmi.com/caselaws?id=428007 Insufficiency of stamping on a guarantee document did not by itself negate otherwise supported evidence of financial debt, security creation, and default under the Insolvency and Bankruptcy Code; the objection was rejected. A corporate guarantor could be proceeded against under Section 7 even where the principal borrower was an individual, because the guarantor's liability arises coextensively on default. The Committee of Creditors' choice to liquidate the corporate debtor under Section 33(2), before any resolution plan was confirmed, was found valid on the material before the Adjudicating Authority, and the liquidation order was upheld. en-us Tue, 20 Sep 2022 00:00:00 +0530 Wed, 28 Sep 2022 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428007 Insufficiency of stamping on a guarantee document did not by itself negate otherwise supported evidence of financial debt, security creation, and default under the Insolvency and Bankruptcy Code; the objection was rejected. A corporate guarantor could be proceeded against under Section 7 even where the principal borrower was an individual, because the guarantor's liability arises coextensively on default. The Committee of Creditors' choice to liquidate the corporate debtor under Section 33(2), before any resolution plan was confirmed, was found valid on the material before the Adjudicating Authority, and the liquidation order was upheld. Case-Laws Insolvency and Bankruptcy Tue, 20 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428007