https://www.taxtmi.com/news?id=71303 There is no statutory bar under the Insolvency and Bankruptcy Code to initiating concurrent CIRP proceedings against a principal debtor and its corporate guarantor for the same debt; a creditor's right to realize a guarantee must not be frustrated by requiring sequential insolvency processes, the IBC does not exempt guarantors during pendency of another process, and adjudicating authorities must examine such applications independently, consistent with the principle that a surety's liability is co-extensive with the principal debtor. en-us Thu, 26 Feb 2026 20:31:04 +0530 Thu, 26 Feb 2026 20:31:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=71303 There is no statutory bar under the Insolvency and Bankruptcy Code to initiating concurrent CIRP proceedings against a principal debtor and its corporate guarantor for the same debt; a creditor's right to realize a guarantee must not be frustrated by requiring sequential insolvency processes, the IBC does not exempt guarantors during pendency of another process, and adjudicating authorities must examine such applications independently, consistent with the principle that a surety's liability is co-extensive with the principal debtor. News - Thu, 26 Feb 2026 20:31:04 +0530 https://www.taxtmi.com/news?id=71303