Guarantor’s liability under the Insolvency and Bankruptcy Code- What Supreme Court has held?

Introduction On 21st May, 2021, the Hon’ble Supreme court held in a case of Lalit Kumar Jain V. Union Of India, that the existence or conclusion of corporate insolvency resolution process (CIRP) against a principal borrower will not function as a bar to initiation of insolvency process of personal or corporate guarantors to corporate debtors. […]