Bombay HC: National Security Justifies Denial of Police Clearance Certificate  ||  Bombay HC: Comic Remarks Without Malicious Intent Not Religious Insult  ||  J&K&L High Court: Scandalous Allegations Against Judicial Officers in Pleadings Impermissible  ||  P&H HC: Writ Petition Against Private Trust's Contractual Employment Dismissed  ||  Gujarat HC: Customary Divorce Entitles Daughter to Family Pension  ||  Calcutta HC: ECI's Prerogative to Deploy Central Employees as Counting Supervisors Upheld  ||  Calling the Situation Grim, the Supreme Court Takes Suo Motu Cognizance of Delays in NCLT Approvals  ||  Supreme Court: Admission of a Claim by a Resolution Professional is Not Debt Acknowledgment  ||  Supreme Court: Public Figures Must Exercise Caution as Their Words Have Consequences in Society  ||  SC: State Must Act as a Model Employer, Criticising the Union For Not Regularising ISRO Workers    

NCLT: Guarantor is Entitled to Initiate CIRP Against Principal Borrower Under Right of Subrogation - (30 Jun 2022)

INSOLVENCY

National Company Law Tribunal (NCLT), Kolkata has held that if a Guarantor pays the debt on behalf of the Principal Borrower, then it steps into the shoes of the Creditor and can initiate Corporate Insolvency Resolution Process (CIRP) against the Principal Borrower.

Tags : NCLT   CIRP   RIGHT OF SUBROGATION  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved