https://www.taxtmi.com/caselaws?id=313448 A Section 7 insolvency application against a corporate guarantor was treated as barred by Section 10A where the relevant default arose on invocation of the guarantee, not on the principal borrower's earlier default. The notice invoking the corporate guarantee was issued on 16.10.2020 and required payment within seven days, so the default date for the guarantor fell within the protected period. On that basis, the Section 7 application could not be sustained, and the rejection of the application as time-barred under Section 10A was upheld. en-us Wed, 26 Jul 2023 00:00:00 +0530 Mon, 15 Apr 2024 20:25:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313448 A Section 7 insolvency application against a corporate guarantor was treated as barred by Section 10A where the relevant default arose on invocation of the guarantee, not on the principal borrower's earlier default. The notice invoking the corporate guarantee was issued on 16.10.2020 and required payment within seven days, so the default date for the guarantor fell within the protected period. On that basis, the Section 7 application could not be sustained, and the rejection of the application as time-barred under Section 10A was upheld. Case-Laws Insolvency and Bankruptcy Wed, 26 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313448