https://www.taxtmi.com/caselaws?id=765832 NCLAT held that corporate guarantee invocation after CIRP commencement is prohibited under Section 14 moratorium provisions. The corporate debtor's CIRP began on 27/01/2020, but respondent invoked guarantee on 18/09/2020, subsequent to CIRP initiation. Relying on SC judgment in Ghanshyam Mishra case, NCLAT ruled that claims based on guarantee invocation after CIRP commencement cannot be admitted as the guarantee was not invoked prior to proceedings. The invocation violated IBC moratorium restrictions, making any resulting claims inadmissible in the resolution process. Appeal allowed. en-us Thu, 06 Feb 2025 00:00:00 +0530 Tue, 11 Feb 2025 07:18:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765832 NCLAT held that corporate guarantee invocation after CIRP commencement is prohibited under Section 14 moratorium provisions. The corporate debtor's CIRP began on 27/01/2020, but respondent invoked guarantee on 18/09/2020, subsequent to CIRP initiation. Relying on SC judgment in Ghanshyam Mishra case, NCLAT ruled that claims based on guarantee invocation after CIRP commencement cannot be admitted as the guarantee was not invoked prior to proceedings. The invocation violated IBC moratorium restrictions, making any resulting claims inadmissible in the resolution process. Appeal allowed. Case-Laws IBC Thu, 06 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765832