https://www.taxtmi.com/caselaws?id=461694 The SC upheld simultaneous insolvency proceedings under Section 7 of IBC against both Principal Borrower and Corporate Guarantor. The Tribunal found no legal impediment to such parallel proceedings, noting the Corporate Guarantor did not dispute the guarantee's existence. The court rejected arguments challenging the application's admission based on procedural technicalities and affirmed the Adjudicating Authority's decision. en-us Mon, 21 Aug 2023 00:00:00 +0530 Tue, 22 Apr 2025 19:03:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461694 The SC upheld simultaneous insolvency proceedings under Section 7 of IBC against both Principal Borrower and Corporate Guarantor. The Tribunal found no legal impediment to such parallel proceedings, noting the Corporate Guarantor did not dispute the guarantee's existence. The court rejected arguments challenging the application's admission based on procedural technicalities and affirmed the Adjudicating Authority's decision. Case-Laws IBC Mon, 21 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461694