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NCLAT: Liability of Personal Guarantor Survives Even on Becoming Citizen of Foreign Country - (02 Aug 2022)

INSOLVENCY

National Company Law Appellate Tribunal (NCLAT), New Delhi Bench has held that liability of Personal Guarantor doesn’t extinguishes upon subsequent acquisition of citizenship of foreign country, and Section 234 and 235 of IBC wouldn’t apply if assets of Personal Guarantor are situated within India.

Tags : NATIONAL COMPANY LAW APPELLATE TRIBUNAL   PERSONAL GUARANTOR   FOREIGN CITIZENSHIP  

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