Prudeta
Prudeta
2026 INSC 668
📌 Paras 10-14
The appellant, a suspended director of Essel Infraprojects Ltd. (EIL), challenged the admission of a corporate insolvency resolution process against EIL by the National Company Law Tribunal (NCLT). EIL had provided a corporate guarantee for loans availed by Pan India Utilities Distribution Company Ltd. (PIUDCL) from Jammu and Kashmir Bank Ltd. (Respondent No. 1). PIUDCL defaulted, leading to the Section 7 application against EIL. The appellant argued that liabilities were transferred due to demerger/amalgamation and that the guarantee was relinquished as it was not mentioned in a renewed sanction letter.
📌 Para 14
Whether the judgments relied upon by the NCLT, and subsequently by the NCLAT, were genuine or fake/AI-gener
The bench further analyzed the constitutional validity of the impugned provisions and discussed the interpretation of Articles 14 and 21 in light of recent precedents...
Citing the ratio in prior decisions, the court held that the legislative intent was to ensure...
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