letter of guarantee Archives

Case Briefs Tribunals/Commissions/Regulatory Bodies

Section 99 IBC Resolution Professional’s report not mandatory where guarantor status admitted: NCLAT Chennai upholds Section 95 IBC application

“…the provisions of Section 99 of the Insolvency and Bankruptcy Code, 2016, are procedural and are only for the purposes of recommending for approval or rejection of the application, where the recommendation would have to be based upon the facts and evidence presented to the Resolution Professional or collected by him under the powers conferred upon him to call for records and evidence.”

Case Briefs High Courts

Non-signatory parties can be subjected to arbitration in accordance with Doctrine of Group of Companies: Delhi High Court

Delhi High Court held that non-signatory or third party could be subjected to arbitration proceedings without their prior consent. It was necessary to examine the touchstone of direct relationship of signatory parties to the arbitration agreement, forming part of a composite transaction.