CIRP proceedings simultaneously maintainable against principal debtor and corporate guarantor

Advertisement ICICI Bank Limited Vs Era Infrastructure (India) Limited (Supreme Court of India) Supreme Court held that simultaneous proceedings for Corporate Insolvency Resolution Process [CIRP] under Insolvency and Bankruptcy Code against the principal debtor as well as corporate guarantor is maintainable. Facts- These appeals, arising out of different orders of the National Company Law Appellate Tribunal and the National Company Law Tribunal, raise a common question of law; one which would appear to be well settled, yet, has been canvassed before us in its entirety. The issue, at large,...