Yohaann Limathwalla

Oct 6, 2023 | lexology.com | Varghese C Thomas |Yohaann Limathwalla |Meher Mistri

The National Company Law Appellate Tribunal, Principal Bench, New Delhi (“NCLAT”) has in the case of SVA Family Welfare Trust & Anr v. Ujaas Energy Limited & Ors inter alia held that a resolution plan can contain a clause which extinguishes security interest, such as personal guarantees, after paying compensation to the financial creditor in whose favour such security interest was created.