NCLT Mumbai: Corporate Guarantor's Date Of Default Is Independent Of Principal Borrower's Date Of Default

The National Company Law Tribunal ('NCLT') Mumbai, comprising Justice Mr. Kishore Vemulapalli (Judicial Member) and Ms. Anu Jagmohan Singh (Technical Member) held that the date of default by the Principal Borrower is not relevant to determine the date of default by the Corporate Guarantor. Background Facts: On 29.07.2023, the Central Bank of India (Financial Creditor) filed a...