{"id":2659,"date":"2025-10-01T12:02:06","date_gmt":"2025-10-01T12:02:06","guid":{"rendered":"https:\/\/bhatiabhola.com\/?p=2659"},"modified":"2025-10-01T12:02:07","modified_gmt":"2025-10-01T12:02:07","slug":"ibbi-nclat-delhi-judgement-dated-03-07-2025-one-time-settlement-ots-with-guarantors-does-not-extinguish-debt-of-corporate-debtor","status":"publish","type":"post","link":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/10\/01\/ibbi-nclat-delhi-judgement-dated-03-07-2025-one-time-settlement-ots-with-guarantors-does-not-extinguish-debt-of-corporate-debtor\/","title":{"rendered":"IBBI, NCLAT Delhi Judgement Dated 03\/07\/2025 &#8211; One Time Settlement (OTS) with Guarantors does not extinguish Debt of Corporate Debtor"},"content":{"rendered":"\n<p><em>Case of Puneet Resutra vs Jammu &amp; Kashmir Bank Limited, NCLAT Delhi Judgement Dated 3<sup>rd<\/sup>\u00a0July 2025.<\/em>The\u00a0Appellate Tribunal ruled that the liability of a\u00a0<a href=\"https:\/\/www.google.com\/search?client=safari&amp;sca_esv=426a8004247428d8&amp;channel=mac_bm&amp;cs=0&amp;sxsrf=AE3TifPt5-7jXsoN4txmdrliXUDdSzHVdQ%3A1759198007453&amp;q=corporate+debtor&amp;sa=X&amp;ved=2ahUKEwjRt5uis_-PAxXu4zgGHcA0EsoQxccNegQIBBAC&amp;mstk=AUtExfBTuFefCxLNW09MaGHckmXwKhS_OWZn0j7hmQn3xEfIwAoYgdNf_RTYmkSoQbi3ULXC1WawWdNCxifpcixFtLEKjOOYwZT2ORg2G6S8tsvhJRmfwIWKM4sejJ175v1EvPzGn6fLtsWl7CFyPa7mYaKldM-6UjFi5SFAtJ4xYMJjr18uDuKbjCK7JD6L71y8F0DmT1no3STK3t3rN7sOQlyfwPlV9QUK3BktFlROHnmAoksx8IzP4nKYJFCpySwxBibhA3t1Wnse_ifjk9L-sKVD&amp;csui=3\" target=\"_blank\" rel=\"noreferrer noopener\">corporate debtor<\/a>\u00a0is not discharged by releasing its guarantors, especially when the bank expressly reserves its right to proceed against the corporate debtor under the\u00a0<a href=\"https:\/\/www.google.com\/search?client=safari&amp;sca_esv=426a8004247428d8&amp;channel=mac_bm&amp;cs=0&amp;sxsrf=AE3TifPt5-7jXsoN4txmdrliXUDdSzHVdQ%3A1759198007453&amp;q=Insolvency+and+Bankruptcy+Code+%28IBC%29&amp;sa=X&amp;ved=2ahUKEwjRt5uis_-PAxXu4zgGHcA0EsoQxccNegQIBBAD&amp;mstk=AUtExfBTuFefCxLNW09MaGHckmXwKhS_OWZn0j7hmQn3xEfIwAoYgdNf_RTYmkSoQbi3ULXC1WawWdNCxifpcixFtLEKjOOYwZT2ORg2G6S8tsvhJRmfwIWKM4sejJ175v1EvPzGn6fLtsWl7CFyPa7mYaKldM-6UjFi5SFAtJ4xYMJjr18uDuKbjCK7JD6L71y8F0DmT1no3STK3t3rN7sOQlyfwPlV9QUK3BktFlROHnmAoksx8IzP4nKYJFCpySwxBibhA3t1Wnse_ifjk9L-sKVD&amp;csui=3\" target=\"_blank\" rel=\"noreferrer noopener\">Insolvency and Bankruptcy Code (IBC)<\/a>.\u00a0It found that the corporate debtor&#8217;s liability remained due to the lack of a waiver or \u2018No Dues\u2019 certificate and that the\u00a0<a href=\"https:\/\/www.google.com\/search?client=safari&amp;sca_esv=426a8004247428d8&amp;channel=mac_bm&amp;cs=0&amp;sxsrf=AE3TifPt5-7jXsoN4txmdrliXUDdSzHVdQ%3A1759198007453&amp;q=guarantors&amp;sa=X&amp;ved=2ahUKEwjRt5uis_-PAxXu4zgGHcA0EsoQxccNegQIBRAB&amp;mstk=AUtExfBTuFefCxLNW09MaGHckmXwKhS_OWZn0j7hmQn3xEfIwAoYgdNf_RTYmkSoQbi3ULXC1WawWdNCxifpcixFtLEKjOOYwZT2ORg2G6S8tsvhJRmfwIWKM4sejJ175v1EvPzGn6fLtsWl7CFyPa7mYaKldM-6UjFi5SFAtJ4xYMJjr18uDuKbjCK7JD6L71y8F0DmT1no3STK3t3rN7sOQlyfwPlV9QUK3BktFlROHnmAoksx8IzP4nKYJFCpySwxBibhA3t1Wnse_ifjk9L-sKVD&amp;csui=3\" target=\"_blank\" rel=\"noreferrer noopener\">guarantors<\/a>&#8216;\u00a0One-Time Settlement (OTS) was a private arrangement that did not extinguish the bank&#8217;s claim against the main borrower.<\/p>\n\n\n\n<p><a href=\"https:\/\/drive.google.com\/file\/d\/1kV0laMhPV3fkmw3DhlFAivm6Wff0DVdE\/view?usp=sharing\"><em>(Link: NCLAT Judgement Dated 03\/07\/2025)<\/em><\/a><em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Case of Puneet Resutra vs Jammu &amp; Kashmir Bank Limited, NCLAT Delhi Judgement Dated 3rd\u00a0July 2025.The\u00a0Appellate Tribunal ruled that the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[66,69],"tags":[],"class_list":["post-2659","post","type-post","status-publish","format-standard","hentry","category-ibbi","category-judiciary-ibbi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IBBI, NCLAT Delhi Judgement Dated 03\/07\/2025 - One Time Settlement (OTS) with Guarantors does not extinguish Debt of Corporate Debtor - Bhatia Bhola &amp; 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