Supreme Court held that a guarantor's security under the Guarantee Act is not time-barred if the principal debt remains outstanding.

The Supreme Court ruled that a guarantor's security under the Guarantee Act is not time-barred merely because the statute of limitations for the principal debt has expired. The court found that the security obligation persists as long as the underlying debt exists, regardless of the principal debtor's limitation status. Consequently, the guarantor remains liable for the debt until the principal obligation is fully extinguished.