Simultaneous CIRP can be Initiated against Principal Borrower and Corporate Guarantor: NCLT [Read Order]

Simultaneous CIRP can be initiated against principal borrower and corporate guarantor, rules NCLT
NCLT - NCLT Kolkata - Corporate Guarantor - CIRP - taxscan

The Kolkata Bench of the National Company Law Tribunal ( NCLT ) observed that the simultaneous Corporate Insolvency Resolution Process ( CIRP ) can be initiated against principal borrower and corporate guarantor. The instant application is filed under Section 7 of the Insolvency and Bankruptcy Code, for brevity I&B Code, read with Rule 4 of…

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