Corporate Guarantor’s Liability Stands Despite Non-Invocation of Guarantee: NCLAT

Iskon Infra Engineering Pvt. Ltd. Vs Central Bank of India (NCLAT Delhi) The National Company Law Appellate Tribunal (NCLAT) in New Delhi ruled on the corporate guarantor’s liability in the case of Iskon Infra Engineering Pvt. Ltd. vs. Central Bank of India. This appeal contested the National Company Law Tribunal (NCLT) New Delhi’s decision, which dismissed the voluntary liquidation application filed by Iskon Infra Engineering Pvt. Ltd. Background: Iskon Infra Engineering Pvt. Ltd. initiated voluntary liquidation proceedings under Section 59 of the Insolvency and Bankruptcy Code (IBC),...