Case Law Details
Case Name : Mavjibhai Nagarbhai Patel Vs State Bank of India (NCLAT Delhi)
Related Assessment Year :
Courts :
NCLAT
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
Mavjibhai Nagarbhai Patel Vs State Bank of India (NCLAT Delhi)
Conclusion: Bank was justified in initiating insolvency proceedings against the personal guarantor by timely filing and proper authorization under section 95. Moreso, deed of guarantee was a continuing guarantee, which meant the appellant’s liability was triggered by the bank’s demand, not necessarily by the corporate debtor’s default.
Held: Appellant-personal guarantor had signed a deed of guarantee for a corporate debtor’s credit facilities. Following the debtor’s def
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.