Claim of guarantee invoked subsequent to CIRP cannot be admitted in CIRP

Ankur Kumar Vs Sustainable Agro-Commercial Financial Ltd. (NCLAT Delhi)

NCLAT Delhi held that invocation of guarantee subsequent to initiation of CIRP cannot be the base for any claim to be admitted in the CIRP. Accordingly, appeal allowed and order passed by adjudicating authority set aside.

Facts- The Corporate Debtor- Gangakhed Sugar & Energy Ltd. entered into Deed of Guarantee dated 13.11.2014 with the Respondent- Sustainable Agro-Commercial Financial Ltd. guaranting the loan extended by the Commercial Financial Limited to the borrower. The Commercia

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