Whether subrogation Right Claim By Personal guarantor Is Valid Under IBC, 2016

Lalit Mishra & Ors. Vs Sharon Bio Medicine Ltd. & Ors. (NCLAT Delhi) Summary: The NCLAT in the case of Lalit Mishra & Ors. Vs Sharon Bio Medicine Ltd. & Ors. addressed the validity of subrogation rights claimed by personal guarantors under the Insolvency and Bankruptcy Code, 2016 (IBC). The appellants, who were promoters and personal guarantors of Sharon Bio Medicine Ltd., challenged the approval of a resolution plan by the NCLT. Their primary contentions were that they, as shareholders, received no amount under the plan, and as personal guarantors, they were discriminated aga...