Extending the applicability of the moratorium declared under the Insolvency and Bankruptcy Code, 2016 (“IBC Code”) to the ‘personal guarantors’ acting as surety in a contract of guarantee to a corporate debtor, the National Company Law Appellate Tribunal (“NCLAT”) has in its recent decision in the matter of State Bank of India vs Mr. V. Ramakrishnan and M/s. Veesons Energy Systems Pvt. Ltd1, held that the “‘Moratorium’ will not only be applicable to the property of the ‘Corporate Debtor’ but also on the ‘Personal Guarantor’.”
By Lindsay Griffiths on Fri, 03 Aug, 2018
Welcome to ILN-terviews, a series of profiles of ILN member firm attorneys, designed to give a unique insight into the lawyers who make up our Network. For our latest interview, we chose ILN member, Alishan Naqvee of our member firm LexCounsel Law Offices in New Delhi, India. In one sentence, how would you describe your...… Continue Reading
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