Simultaneous proceedings for the same debt under IBC

By Dhiraj Yadav and Barkha Dwivedi It is a well settled principle that the liability of a Principal Debtor and a Guarantor is coextensive. The same is enshrined under section 128 of the Indian Contract Act, 1872. Despite this, the act of initiating simultaneous proceedings against Principal Debtor and Guarantor for the same amount of […]