The Committee of Creditors, M/S Smartec Build Systems Pvt. Ltd. Vs. B. Santosh Babu & Ors. – SC

Guarantor cannot but be stated to be a strict liability & even if the principal debtor is discharged from his liability unless such discharge is through the act of the creditor without consent of the surety/guarantor, the creditor’s right of action against the surety is preserved-Industrial Finance Corporation Of India Ltd. Vs. Thletdc.An&Naonrosr.E Spinning & Weaving Mills -Supreme Court

Case Laws-SARFAESI-Supreme Court, IBC-Case Laws-Supreme Court, Indian Contract Act-Case Laws

A discharge which the principal debtor may secure by operation of law in bankruptcy or in liquidation proceedings in the case of a company does not absolve the surety of his liability-Maharashtra State Electricity Board, Bombay Vs. Official Liquidator, High Court, Ernakulam, Anr. -Supreme Court

Case Laws-SARFAESI-Supreme Court, Companies Act-Supreme Court, IBC-Case Laws-Supreme Court, Indian Contract Act-Case Laws

In continuing guarantee the period of limitation will commence to run only from the date of breach – Margaret Lalita Samuel Vs. Indo Commercial Bank Ltd. – Supreme Court

Case Laws-SARFAESI-Supreme Court, IBC-Case Laws-Supreme Court, Indian Contract Act-Case Laws

A guarantor may join the principal debtor in executing the promissory note he will not be a co-obligant where the underlying transaction & the conduct of the parties show that he is a surety under Sec. 126 of the Contract Act-S. Chattanatha Karayalar Vs. The Central Bank Of India And Others -Supreme Court

Case Laws-SARFAESI-Supreme Court, IBC-Case Laws-Supreme Court, Indian Contract Act-Case Laws

Surety has no right to dictate terms to the creditor & ask him to pursue his remedies against the principal in the first instance – Bank of Bihar Ltd. Vs. Damodar Prasad and Anr. – Supreme Court

Case Laws-SARFAESI-Supreme Court, IBC-Case Laws-Supreme Court, Indian Contract Act-Case Laws

Refusal of registration of the reference sought by a Company by the Registrar, Secretary/Chairman of the BIFR was non-est in law- Bank of New York Mellon London Branch Vs. Zenith Infotech Ltd.- Supreme Court

IBC-Case Laws-Supreme Court

Against an order rejecting an application for review, a Special Leave Petition is not maintainable – Suseel Finance & Leasing Co. Vs. M. Lata & Ors. – Supreme Court

Arbitration-Supreme Court, Case Laws-SARFAESI-Supreme Court, Common Interpretation judgment, Companies Act-Supreme Court, IBC-Case Laws-Supreme Court

Whether applicability of Section 14 of the Limitation Act is excluded to proceedings under Section 34 of Arbitration and Conciliation Act, 1996? – Consolidated Engineering Enterprises Vs. The Principal Secretary (Irrigation Department) and Ors. – Supreme Court of India

Arbitration-Supreme Court, Case Laws-Negotiable Instruments Act [NI], Case Laws-RERA-Supreme Court, Case Laws-SARFAESI-Supreme Court, CCA-Commercial Courts Act Case Laws (High Court &Supreme Court), Companies Act-Supreme Court, CP- Supreme Court Case Laws, IBC-Case Laws-Supreme Court, Indian International Arbitration Centre Act Case Laws(High Court &Supreme Court)