Tag: 1872; National Company Law Tribunal; Supreme Court of India.
April 7, 2021
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
Supreme Court on Maintainability of Action under Sectio...
In a recent judgment delivered by the Supreme Court of India ("Court") in Laxmi Pat Surana vs. Union Bank of India & Anr. , the Court has held that the principal borrower need not be a ‘corporate person’ for insolvency process to be initiated against a company which stood as its guarantor, under the Insolvency and Bankruptcy Code, 2016 ("IBC"). ......