All HC: Guarantor’s Liability Doesn’t Absolve by Itself Upon Approval of Resolution Plan - 16.01.2023

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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