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Supreme Court Clarifies Guarantee Law in UV Asset v. Electrosteel Castings: Promoter Undertaking Not a Guarantee
Court News

Supreme Court Clarifies Guarantee Law in UV Asset v. Electrosteel Castings: Promoter Undertaking Not a Guarantee

Supreme Court rules promoter fund undertakings are not guarantees under Section 126. Third-party security liability survives insolvency resolution unless extinguished.

Supreme Court Judgment Guarantee Law Indian Contract Act 1872 Section 126 Insolvency and Bankruptcy Code IBC Section 62 Promoter Undertaking Third Party Security Insolvency Resolution Contract Law India Financial Guarantees
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