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HomeCompany & PMLAHypothecators Liable as Corporate Guarantors for Rs. 250+ Crore Debt: NCLT Admits...

Hypothecators Liable as Corporate Guarantors for Rs. 250+ Crore Debt: NCLT Admits Insolvency Pleas Against Group Companies

Company & PMLA

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By Mariya Paliwala
Hypothecators Liable as Corporate Guarantors for Rs. 250+ Crore Debt: NCLT Admits Insolvency Pleas Against Group Companies

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The National Company Law Tribunal (NCLT), New Delhi Bench, has dealt with a batch of insolvency petitions against multiple group companies of a real estate conglomerate and held that the hypothecators are liable as corporate guarantors for Rs. 250+ Crore debt. The bench of Ashok Kumar Bhardwaj (Judicial Member) and Reena Sinha Puri (Technical Member)…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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