https://www.taxtmi.com/highlights?id=96743 The enforceability of a corporate continuing guarantee was upheld: recitals in a subsequent guarantee are non operative and cannot discharge prior obligations, so a recital of discharge fails if the instrument itself is void. Blank spaces confined to recitals and non material terms do not void the guarantee and do not raise a prima facie construction issue. A sanction/review letter proposing to relieve a guarantor is a proposal, not a novation, and conditional relief does not discharge the guarantee absent fulfillment of conditions. Pendency of a civil suit alone does not defeat an insolvency petition; acknowledgment of liability in time prevents the claim from being time barred. The appeal was dismissed. en-us Tue, 10 Feb 2026 07:46:24 +0530 Tue, 10 Feb 2026 07:46:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=96743 The enforceability of a corporate continuing guarantee was upheld: recitals in a subsequent guarantee are non operative and cannot discharge prior obligations, so a recital of discharge fails if the instrument itself is void. Blank spaces confined to recitals and non material terms do not void the guarantee and do not raise a prima facie construction issue. A sanction/review letter proposing to relieve a guarantor is a proposal, not a novation, and conditional relief does not discharge the guarantee absent fulfillment of conditions. Pendency of a civil suit alone does not defeat an insolvency petition; acknowledgment of liability in time prevents the claim from being time barred. The appeal was dismissed. Highlights IBC Tue, 10 Feb 2026 07:46:24 +0530 https://www.taxtmi.com/highlights?id=96743