https://www.taxtmi.com/highlights?id=104575 Material defects in the Information Memorandum, including overstated debt, omission of guarantor recovery, erroneous creditor ranking and undisclosed SEZ de-notification, distort voting, valuation and resolution-plan feasibility; commercial wisdom cannot cure those defects. A corporate guarantor that pays the financial creditor is subrogated to secured rights only to the amount paid and must be ranked as a secured financial creditor. The financial creditor's claim against the principal borrower must be recomputed from the finally adjudicated debt after crediting recovery from the guarantor. A plan requiring conversion or sub-leasing of SEZ leasehold land without statutory consent or completed approvals is neither feasible nor viable. The process must restart with a corrected Information Memorandum and fresh resolution invitation. en-us Tue, 06 Oct 2026 08:13:52 +0530 Tue, 06 Oct 2026 08:13:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104575 Material defects in the Information Memorandum, including overstated debt, omission of guarantor recovery, erroneous creditor ranking and undisclosed SEZ de-notification, distort voting, valuation and resolution-plan feasibility; commercial wisdom cannot cure those defects. A corporate guarantor that pays the financial creditor is subrogated to secured rights only to the amount paid and must be ranked as a secured financial creditor. The financial creditor's claim against the principal borrower must be recomputed from the finally adjudicated debt after crediting recovery from the guarantor. A plan requiring conversion or sub-leasing of SEZ leasehold land without statutory consent or completed approvals is neither feasible nor viable. The process must restart with a corrected Information Memorandum and fresh resolution invitation. Highlights IBC Tue, 06 Oct 2026 08:13:52 +0530 https://www.taxtmi.com/highlights?id=104575