ICICI Bank Limited Vs Era Infrastructure (India) Limited and connected matters: In this Case, the Supreme Court clarified that a creditor can initiate proceedings under IBC on both the CD and Corporate Guarantor, as the same would not be unfair and unjust. For eg: If an FC (claim 10 crores) is part of the COC in both the CD & it's Corporate Guarantor, and the CIRP of the CD is completed and the payment to the concerned FC is made. ( 3 cr), therefore the FC will have to update it's claim with the RPro of Corporate Guarantor. Will that FC can still be a part of the COC of the Corporate Guarantor for the remaining claim?

Yes, the Financial Creditor (FC) can remain part of the Committee of Creditors (CoC) of the Corporate Guarantor for the remaining debt, as confirmed in ICICI Bank Limited vs Era Infrastructure (India) Limited (2026). The Supreme Court ruled that while simultaneous CIRPs are valid, FCs must update their claims with the Resolution Professional (RPro) to reflect recoveries from the principal borrower, preventing double recovery while ensuring the remaining claim remains valid

Answer given by Shubhamm Sir at 06-May-2026 10:00 PM

Saanika ( Vasai (W) )

Conceptual Clarity on a recent February 26 Judgement under IBC