The law of guarantee is very clear that the liability of the Principal Borrower and the Guarantor is joint, several and co-extensive. The Financial Creditor is free to proceed against either of them or both of them as per its own choice – Dena Bank Vs. M/s Aryavrat Trading Pvt. Ltd. – NCLT Kolkata Bench

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Whether the document, claims and counter-claims are a genuine or forged ones, it cannot be determined under the summary jurisdiction of NCLT – M/s Three C Universal Developers Pvt. Ltd. Vs. M/ s. Gulshan Homz Pvt. Ltd. – NCLT New Delhi Bench Court-II

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Even if vehicle hypothecation registered under the Motor Vehicles Act, 1988, it is mandatory to register with ROC to claim as Secured Creditor under Section 52 of IBC – Volkswagen Finance Private Limited Vs. Shree Balaji Printopack Pvt. Ltd – NCLAT New Delhi

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