Informative

Resolution Professionals Cannot Admit Claims Based on Uninvoked Guarantee: NCLAT

Update / Judgement Date

16 Feb 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Insolvency & Bankruptcy CodeOther Legal Matters

The NCLAT ruled that resolution professionals cannot admit claims based on uninvoked guarantees. This decision clarifies the admissibility of claims in insolvency proceedings. It emphasizes the importance of actual invocation of guarantees.

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Resolution Professionals Cannot Admit Claims Based on Uninvoked Guarantee: NCLAT

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