Till payment is received in one, lender's claim maintainable in CIRP against both Principal Borrower, Corporate Guarantor: NCLAT

The NCLAT held that when two CIRPS are maintainable, claim in both, subject to adjustments on receipts, would also be maintainable.

The National Company Law Appellate Tribunal has held that till payment is received in one Corporate Insolvency Resolution Process (CIRP), the claim of the lender for the same amount can be maintained in the insolvency proceedings against both the Principal Borrower and Corporate Guarantor (SBI Vs. Animesh Mukhopadhyay).

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