Simply because a CIRP is pending against Principal Borrower or that some Resolution Plan is under consideration, is by itself not a ground to dismiss application filed u/s 7 of IBC against the Corporate Guarantor – M/s. Edelweiss Asset Reconstruction Company Ltd. Vs. Sadguru Multitrade Pvt. Ltd. – NCLT Mumbai Bench

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Steps are required to be adopted for writ of Summons issued under Recovery of Debts and Bankruptcy Act 1993, Important decision of Division Bench of Bombay High Court on procedure for issuance of Summons by DRT – Sunil Gupta Vs. Asset Reconstruction Company (India) Ltd. – Bombay High Court

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