Lalit Kumar Jain filed a petition against the Union of India Ministry of Law and Justice & Ors. The court is dealing with proceedings related to a Corporate Debtor. Lalit Kumar Jain is also a Personal Guarantor. The court has stayed proceedings against the petitioner under Part 3 of the IBC, while allowing proceedings to continue in relation to the Corporate Debtor. The liability of the petitioner as a Personal Guarantor may be examined by the IRP. Notice was issued to respondent No.5, returnable on 06.10.2020. Served respondents were given four weeks to file their counter affidavit.

Lalit Kumar Jain filed a petition against the Union of India Ministry of Law and Justice & Ors. The court is dealing with proceedings related to a Corporate Debtor. Lalit Kumar Jain is also a Personal Guarantor. The court has stayed proceedings against the petitioner under Part 3 of the IBC, while allowing proceedings to continue in relation to the Corporate Debtor. The liability of the petitioner as a Personal Guarantor may be examined by the IRP. Notice was issued to respondent No.5, returnable on 06.10.2020. Served respondents were given four weeks to file their counter affidavit.