https://www.taxtmi.com/article/detailed?id=14944 Approval of a corporate resolution plan does not extinguish the independent contractual liabilities of a personal guarantor; creditors may pursue recovery from guarantors and may initiate parallel insolvency proceedings under the Code. Where a resolution plan or assignment expressly excludes guarantees or does not transfer guarantee rights to the successful resolution applicant, those guarantees remain enforceable by the creditor. Principles of joint and several liability support creditor recourse against either the principal borrower or the surety, subject to the plan terms and limitation rules. en-us Mon, 11 Aug 2025 08:44:51 +0530 Mon, 11 Aug 2025 08:44:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=14944 Approval of a corporate resolution plan does not extinguish the independent contractual liabilities of a personal guarantor; creditors may pursue recovery from guarantors and may initiate parallel insolvency proceedings under the Code. Where a resolution plan or assignment expressly excludes guarantees or does not transfer guarantee rights to the successful resolution applicant, those guarantees remain enforceable by the creditor. Principles of joint and several liability support creditor recourse against either the principal borrower or the surety, subject to the plan terms and limitation rules. Articles Corporate Laws / IBC / SEBI Mon, 11 Aug 2025 08:44:51 +0530 https://www.taxtmi.com/article/detailed?id=14944