https://www.taxtmi.com/caselaws?id=787342 Whether simultaneous initiation of CIRP against a corporate debtor and its corporate guarantor is maintainable is addressed by reference to the code's provision permitting separate or concurrent proceedings and the co-extensive liability of guarantors, supporting parallel remedies; regulators' safeguards against double recovery include creditor obligations to update claims and the resolution professional's duty to determine and revise admitted claims, while the Section 7 admission threshold and adjudicating authority's discretion to test admissibility remain applicable and must be exercised reasonably; consequently simultaneous CIRPs are held permissible with statutory and regulatory safeguards preventing double recovery. en-us Thu, 26 Feb 2026 00:00:00 +0530 Wed, 13 May 2026 17:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787342 Whether simultaneous initiation of CIRP against a corporate debtor and its corporate guarantor is maintainable is addressed by reference to the code's provision permitting separate or concurrent proceedings and the co-extensive liability of guarantors, supporting parallel remedies; regulators' safeguards against double recovery include creditor obligations to update claims and the resolution professional's duty to determine and revise admitted claims, while the Section 7 admission threshold and adjudicating authority's discretion to test admissibility remain applicable and must be exercised reasonably; consequently simultaneous CIRPs are held permissible with statutory and regulatory safeguards preventing double recovery. Case-Laws IBC Thu, 26 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787342