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
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