Supreme Court of India
Brs Ventures Investments Ltd. v. Srei Infrastructure Finance Ltd. & Anr.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
2 Supreme Court benches have cited this judgment.
What the Court ordered
In view of the above discussion, it is held that approval of a resolution plan does not ipso facto discharge a personal guarantor (of a corporate debtor) of her or his liabilities under the contract of guarantee.
Judgment, page 20
From the headnote
Issue for Consideration Whether the payment of Rs.38.87 crores to the financial creditor under the resolution plan of the corporate guarantor will extinguish the liability of the principal borrower/corporate debtor to pay the entire amount payable under the loan transaction after deducting the amount paid on behalf of the corporate guarantor in terms of its resolution plan; whether a holding company is the owner of the assets of its subsidiary and can the assets of the subsidiaries be included in the resolution plan of the holding company; can the financial creditor file simultaneous/separate
Authorities it was built on
- 2019 Committee of Creditors of Essar Steel India Limited through Authorised Signatory v. Satish Kumar Gupta & Ors.
- 2012 Vodafone International Holdings B.V. v. Union of India & Anr.
- 2018 State Bank of India v. V. Ramakrishnan & Anr.
- 1969 Pun.jab National Bank Limited v. Bikram Cotton Mills & Anr.
- 2021 Jaypee Kensington Boulevard Apartments Welfare Association & Ors. v. Nbcc (india) Ltd. & Ors.
- 1954 Bacha F. Guzdar v. Commissioner of Income-tax, Bombay.
- 2021 Laxmi Pat Surana v. Union Bank of India & Anr.
- 1962 Kapur Chand Godha v. Mir Nawab Himayatalikhan Azamjah
- 2022 Maitreya Doshi v. Anand Rathi Global Finance Ltd. and Anr.
- 2021 Lalit Kumar Jain v. Union of India & Ors.
- 1968 Amrit Lal Goverdhan Lalan v. State Bank of Travancore & Ors.
- 2010 Economic Transport Organization v. M/s. Charan Spinning Mills (p) Ltd. and Anr
- 1993 Pavitri Devi and Anr. v. Darbari Singh and Ors.
Where later benches applied it
- 2026 Alpha Corp Development Private Limited v. Greater Noida Industrial Development Authority (gnida)
- 2026 Bhartiya Mazdoor Sangh, Uttar Pradesh and Another v. The State of Uttar Pradesh
Of those, 1 referred to · 1 mentioned
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