NCLAT dismisses four appeals filed by Bindu Kapoor challenging NCLT orders admitting Imagine group companies into insolvency.
Tribunal upholds NCLT's finding that hypothecation deeds constitute corporate guarantees under IBC, establishing jurisdiction under Section 60(2).
Court confirms J.C. Flowers ARC's claims totaling ₹596 crore across multiple loan agreements with the Imagine companies.
Decision reinforces that substance over form determines guarantee status, following Supreme Court's China Development Bank precedent.