debt against both the Principal Debtor as
well as the surety. It is argued by the learned Counsel for Appellant and
he has filed copies ... accepted that under Section 128 of Contract Act, 1872,
liability of the surety is co-extensive with the Principal Debtor and the
Creditor may proceed
benefit of
the principal debtor is a sufficient consideration
to the surety for giving guarantee as expressly
provided in Section 127 of the Contract ... Thus, even though there is no consideration to
the third party surety for mortgage, the
consideration of having done anything for the
benefit
accordance with the procedure
prescribed by law. The liability of a surety is co-
extensive with that of principal debtor. In case
there are more ... than one surety the liability is to be
divided equally among the sureties for unpaid
amount of loan. Once the sale has been confirmed
tripartite agreement between the banks (credit), the principal
debtor (appellant) and the surety (LP Corporation) and under the
said agreement, the guarantor agrees ... section 128 of the Indian contract act, the liability of a
surety/guarantor coexists with that of the principal debtor, the
surety/guarantor is liable
states Corporate Guarantor means the
corporate person who is surety in contract guarantee to
a Corporate Debtor. Section 3(8) of IBC defines
Corporate Debtor ... binding upon the 'Appellant'/ 'Corporate
Guarantor'/ 'Surety'.
11. Yet another contention raised on behalf of the Appellant is that
rule-
(1) The retiring railway servant
may be asked to furnish a surety
of a suitable permanent railway
servant. If the surety furnished ... last claim for pay, etc.
should not be withheld and the
surety shall sign a bond in Form
2.
(2) If the retiring railway servant
rule-
(1) The retiring railway servant
may be asked to furnish a surety
of a suitable permanent railway
servant. If the surety furnished ... last claim for pay, etc.
should not be withheld and the
surety shall sign a bond in Form
2.
(2) If the retiring railway servant
rule-
(1) The retiring railway servant
may be asked to furnish a surety
of a suitable permanent railway
servant. If the surety furnished ... last claim for pay, etc.
should not be withheld and the
surety shall sign a bond in Form
2.
(2) If the retiring railway servant
rule-
(1) The retiring railway servant
may be asked to furnish a surety
of a suitable permanent railway
servant. If the surety furnished ... last claim for pay, etc.
should not be withheld and the
surety shall sign a bond in Form
2.
(2) If the retiring railway servant
rule-
(1) The retiring railway servant
may be asked to furnish a surety
of a suitable permanent railway
servant. If the surety furnished ... last claim for pay, etc.
should not be withheld and the
surety shall sign a bond in Form
2.
(2) If the retiring railway servant
