India: Supreme Court Reaffirms- Corporate Guarantors To ‘Non-Corporate' Debtors To Face IBC Proceedings - Phoenix Legal

The Supreme Court ("SC") in the recent judgment of K. Paramasivam v. The Karur Vysya Bank Ltd. & Anr., held that a CIRP can be initiated against a corporate guarantor, even if the principal borrower is not a ‘corporate person'.