If Guarantee is in the nature of an on-demand guarantee, the default is to arise only when Demand Notice was issued as contemplated in the Deed of Guarantee – Mavjibhai Nagarbhai Patel Vs. State Bank of India and Ors. – NCLAT New Delhi

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If any Public depositor applies showing due of the debt claiming itself as operational creditor and the Resolution Professional or the Tribunal do not accept the claim on the ground that they are not financial creditor, we allow the appellant to raise the question before the Tribunal and if any adverse decision is given by the Tribunal, it will be open to the appellant to raise the issue before NCLAT- Hind Motors India Ltd. Vs. Adjudicating Authority NCLT, Chandigarh – NCLAT New Delhi

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