₹25 Cr Cap Rejected as Non-Obstante Clause Does Not Override Interest Clause

ICICI Bank Ltd. Vs Seeta Neeraj Shah (NCLAT Delhi) The National Company Law Appellate Tribunal (NCLAT), Delhi, examined an appeal challenging an order of the Adjudicating Authority which had capped the liability of a corporate guarantor at ₹25 crore under a guarantee deed. The dispute arose from a credit facility extended to a borrower, for which a corporate guarantee was executed. Upon default, the lender invoked the guarantee and filed its claim during insolvency proceedings. While the Resolution Professional admitted a total claim of ₹67.98 crore, comprising ₹25 crore as principal gua...