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Financial creditor can file application u/s 7 against guarantor on failure of principal borrower’s to repay money

June 20, 2020[2020] 117 192 (NCL-AT)

IBC: Proceedings under section 7 can be triggered by a 'Financial Creditor' who had taken Guarantee in respect of 'Debt' against 'Guarantor' for failure to repay money borrowed by 'Principal Borrower'

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