The creditor can invoke corporate guarantee only in the event the principal debtor fails to pay the recalculated interest and since the accounts had not been reconciled between the principal debtor and the creditor till date, there was no debt which was due and payable and on which the principal debtor had defaulted – Export Import Bank of India Vs. CHL Limited – NCLAT

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The creditor can invoke corporate guarantee only in the event the principal debtor fails to pay the recalculated interest and since the accounts had not been reconciled between the principal debtor and the creditor till date, there was no debt which was due and payable and on which the principal debtor had defaulted – Export Import Bank of India Vs. CHL Limited – NCLAT Read Post »