Articles 137 of Limitation Act will be apply in case of application filed u/s 7 of IBC and limitation period will be 3 years started when the right to apply accrues – Gaurav Hargovindbhai Dave Vs. Asset Reconstruction Company (India) Ltd & Anr – Supreme Court

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Guarantor cannot but be stated to be a strict liability & even if the principal debtor is discharged from his liability unless such discharge is through the act of the creditor without consent of the surety/guarantor, the creditor’s right of action against the surety is preserved-Industrial Finance Corporation Of India Ltd. Vs. Thletdc.An&Naonrosr.E Spinning & Weaving Mills -Supreme Court

Case Laws-SARFAESI-Supreme Court, IBC-Case Laws-Supreme Court, Indian Contract Act-Case Laws

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