Topic
Karnataka HC held that a backstop guarantor’s subrogated pledge over UBL shares outranks personal guarantees, allowing recovery of USD 140.97 million paid to SCB. It clarifies priority, impacting lenders, guarantors, and shareholders.
By setting aside a ₹1,885 cr inflated claim and correcting the information memorandum, the NCLAT affirmed that a guarantor can claim subrogation rights under the IBC. The ruling tightens claim valuation standards and protects guarantors in corporate insolvency cases.
The Kerala High Court affirmed that common carriers are absolutely liable for goods damage during transit under Section 7 of the Carriers Act 1865, and that insurers automatically acquire subrogation rights upon indemnifying the consignor -无需 formal subrogation letters. This clarifies a critical procedural shortcut for insurance claims in logistics disputes, reducing litigation barriers for carriers and insurers alike.