Action to initiate Corporate Insolvency Resolution Process under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) can be initiated by the financial creditor (Bank) against a corporate person concerning guarantee offered by it in respect of a loan account of the principal borrower, who had committed default, even if the principal borrower is not a 'corporate person', the Supreme Court held in the case of Laxmi Pat Surana v. Union Bank of India. Reddy & Reddy Law Firm has a forte in handling Corporate related matters. It has a specialized team of experienced lawyers.
This is your website preview.
Currently it only shows your basic business info. Start adding relevant business details such as description, images and products or services to gain your customers attention by using Boost 360 android app / iOS App / web portal.
Action to initiate Corporate Insolvency Resolut...
2021-03-27T10:12:08
Action to initiate Corporate Insolvency Resolution Process under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) can be initiated by the financial creditor (Bank) against a corporate person concerning guarantee offered by it in respect of a loan account of the principal borrower, who had committed default, even if the principal borrower is not a 'corporate person', the Supreme Court held in the case of Laxmi Pat Surana v. Union Bank of India. Reddy & Reddy Law Firm has a forte in handling Corporate related matters. It has a specialized team of experienced lawyers.
2021-03-27T10:12:08
Share it on
Keywords
- IBC
- forte
- Action
- respect
- default
- Section
- guarantee
- loan account
- Supreme Court
- Reddy Law Firm
- Bankruptcy Code
- corporate person
- financial creditor
- principal borrower
- Union Bank of India
- case of Laxmi Pat Surana
- handling Corporate related matters
- specialized team of experienced lawyers
- Corporate Insolvency Resolution Process
Submit Your Enquiry