https://www.taxtmi.com/highlights?id=68852 Recovery of electricity dues of the Company - personal liability of the Directors of the Defaulter Company/Corporate debtor which went into insolvency - it is clear that approval of a resolution plan does not ipso facto absolve the surety/guarantor of his or her liability, which arises out of an independent contract of guarantee. To what extent, the liability of a guarantor can be pressed into service would depend on the terms of the guarantee/contract, itself - HC en-us Wed, 22 Mar 2023 08:39:35 +0530 Wed, 22 Mar 2023 08:39:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=68852 Recovery of electricity dues of the Company - personal liability of the Directors of the Defaulter Company/Corporate debtor which went into insolvency - it is clear that approval of a resolution plan does not ipso facto absolve the surety/guarantor of his or her liability, which arises out of an independent contract of guarantee. To what extent, the liability of a guarantor can be pressed into service would depend on the terms of the guarantee/contract, itself - HC Highlights Companies Law Wed, 22 Mar 2023 08:39:35 +0530 https://www.taxtmi.com/highlights?id=68852