IDBI TRUSTEESHIP SERVICES LTD. vs HUBTOWN LTD.

The Supreme Court addressed the enforceability of a Corporate Guarantee in the context of a Summary Suit under the provisions of the Indian Contract Act, 1872. The Court held that the Debenture Trust Deeds, which included the Corporate Guarantee, were valid and enforceable, affirming the rights of the debenture trustee to recover amounts due under the guarantee. The appeal was allowed, reinforcing the legal principle that a corporate guarantee is binding when executed in accordance with statutory requirements.