Live Help
Want to know more
Enter the details and we'll call you soon

Name :

Company Name :

City :

Mobile No. :

Email id :

  

Thank you for your details



Our Executive will reach you shortly.

Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset SessionCancel Session
 

Failure on part of guarantor to pay back advances taken by debtor would be financial debt

June 11, 2019[2019] 105 taxmann.com 171 (NCLT - Kolkata)
211 Views

IBC: Where a creditor made advance payment under coal purchase agreement with a third party and respondent as guarantor agreed to pay back advance on third party debtor's failure to supply coal, but respondent guarantor failed to do so, same would give rise to financial debt; merely because shares were pledged by guarantor to creditor would not be bar to make such a due a financial debt

read more

taxmann.com
Payment
Best view in 1140 x 768