https://www.taxtmi.com/caselaws?id=430481 The Tribunal dismissed the Company Petition due to the unauthorized Corporate Guarantee issued by the Respondent, leading to related liabilities. The Respondent was directed to indemnify Aranca (Mumbai) Pvt. Ltd. for any liabilities arising from the unauthorized act and deposit Rs. 3,94,99,355/- with the NCLT Mumbai Bench to secure the company's interests. The decision highlighted the irregularities and emphasized the necessity of proper authorization and compliance with statutory requirements in corporate transactions. en-us Fri, 30 Sep 2022 00:00:00 +0530 Mon, 21 Nov 2022 04:45:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430481 The Tribunal dismissed the Company Petition due to the unauthorized Corporate Guarantee issued by the Respondent, leading to related liabilities. The Respondent was directed to indemnify Aranca (Mumbai) Pvt. Ltd. for any liabilities arising from the unauthorized act and deposit Rs. 3,94,99,355/- with the NCLT Mumbai Bench to secure the company's interests. The decision highlighted the irregularities and emphasized the necessity of proper authorization and compliance with statutory requirements in corporate transactions. Case-Laws Insolvency and Bankruptcy Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430481