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When a Court has to decide whether a person has really guaranteed the due performance of the contract by the principal debtor, all the circumstances concerning the transaction will have to be necessarily considered. Court cannot adopt a hyper technical attitude that the guarantor has not signed the agreement and so he cannot be saddled with the liability-P.J. Rajappan Vs. Associated Industries (Pvt.) Ltd. & another – Kerala High Court Case Laws-SARFAESI-High Courts, IBC-Case Laws-High Courts, Indian Contract Act-Case Laws Username Password Remember Me … Read Post »
A scheme sanctioned by the Court u/s 391 & 394 of the Companies Act, 1956 was binding on the creditors whether such creditors assented to it or not. A contract between the creditor and the principal debtor by which the creditor compounds with the principal debtor, discharges the surety-Shri Kundanmal Dabriwala Vs. Haryana Financial Corporation and another -Punjab & Haryana High Court Case Laws-SARFAESI-High Courts, Companies Act-High Courts, IBC-Case Laws-High Courts, Indian Contract Act-Case Laws Username Password Remember Me … Read Post »
The surety’s obligation to pay would arise immediately on default committed by the principal debtor and once a cause of action against the surety has arisen the commencement of the running of time is not further postponed till the making of a demand-Montosh Kumar Chatterjee v Central Calcutta Bank Ltd.-Calcutta High Court Case Laws-SARFAESI-High Courts, IBC-Case Laws-High Courts, Indian Contract Act-Case Laws Username Password Remember Me … Read Post »
Innovative Industries Limited. Vs. Union of India and others- Bombay High Court IBC-Case Laws-High Courts Username Password Remember Me … Read Post »
