https://www.taxtmi.com/highlights?id=75269 Initiation of CIRP - liability of Guarantor of loan - acknowledgment of debt by the Principal Borrower shall be binding on the Guarantor or not - The Tribunal found no merit in the argument that the petition was barred by limitation, given the continuous acknowledgment of the debt by the Principal Borrower and the Corporate Guarantor. - The Tribunal concluded that the liability of the Guarantor is co-extensive with that of the Principal Borrower, and acknowledgments of debt by the Principal Borrower extended the limitation period for actions against the Corporate Guarantor as well. en-us Thu, 29 Feb 2024 07:54:56 +0530 Thu, 29 Feb 2024 07:54:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75269 Initiation of CIRP - liability of Guarantor of loan - acknowledgment of debt by the Principal Borrower shall be binding on the Guarantor or not - The Tribunal found no merit in the argument that the petition was barred by limitation, given the continuous acknowledgment of the debt by the Principal Borrower and the Corporate Guarantor. - The Tribunal concluded that the liability of the Guarantor is co-extensive with that of the Principal Borrower, and acknowledgments of debt by the Principal Borrower extended the limitation period for actions against the Corporate Guarantor as well. Highlights Insolvency and Bankruptcy Thu, 29 Feb 2024 07:54:56 +0530 https://www.taxtmi.com/highlights?id=75269