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2022-05-16
SC stay on guarantee invocation may delay personal insolvencies | Views of Anushkaa Arora in Mint.

Anushkaa Arora, principal and founder of ABA Law Office, said that though there won’t be any direct impact on other cases of NCLT, an implied effect can be seen in cases involving similar questions or points of law. “This can be a catch for guarantors of pending cases for obtaining interim relief on the same lines,” she said.
“In granting interim relief to Sodhi, the top court took a forward step displaying its intention to decide the matter on merits. We will have to wait for a few more months to see how the law will evolve with respect to personal guarantors,” Arora said, adding that if the issue is not decided within six months, the interim relief will automatically get vacated. However, the court indicated that the issue of personal guarantors in IBC would be decided soon.

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