https://www.taxtmi.com/caselaws?id=788005 A resolution plan addressing one debtor's unsecured obligations does not, by itself, extinguish a separate secured debt owed by the principal borrower or corporate guarantor. Where the Section 7 claim arises from distinct term loan facilities supported by separate security documents and a corporate guarantee, the debt remains enforceable unless it has been discharged, waived, or satisfied in law; the Section 7 application is therefore maintainable. The appellant was also treated as a person aggrieved because admission of insolvency proceedings against the principal borrower could affect implementation of its approved plan, so it had locus under Section 61. The intervention petitions were nevertheless rejected, and the insolvency admission was upheld. en-us Thu, 12 Mar 2026 00:00:00 +0530 Mon, 16 Mar 2026 08:42:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788005 A resolution plan addressing one debtor's unsecured obligations does not, by itself, extinguish a separate secured debt owed by the principal borrower or corporate guarantor. Where the Section 7 claim arises from distinct term loan facilities supported by separate security documents and a corporate guarantee, the debt remains enforceable unless it has been discharged, waived, or satisfied in law; the Section 7 application is therefore maintainable. The appellant was also treated as a person aggrieved because admission of insolvency proceedings against the principal borrower could affect implementation of its approved plan, so it had locus under Section 61. The intervention petitions were nevertheless rejected, and the insolvency admission was upheld. Case-Laws IBC Thu, 12 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788005