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All HC: Guarantor’s Liability Doesn’t Absolve by Itself Upon Approval of Resolution Plan - (16 Jan 2023)

INSOLVENCY

Allahabad High Court has held that approval of a resolution plan under Section 31 of the IBC, does not ipso facto absolve the surety/guarantor of the Corporate Debtor of his or her liability, which arises out of an independent contract of guarantee.

Tags : ALLAHABAD HIGH COURT   CORPORATE DEBTOR   GUARANTOR’S LIABILITY   RESOLUTION PLAN  

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