This is an appeal against the order passed by the Adjudicating Authority (National Company Law Tribunal) Guwahati Bench, Guwahati, which directed that Rs.7,50,000/- be remitted to the account of the Corporate Debtor. The appellant had deposited this amount in pursuance of an OTS proposal given to SBI, towards settlement for Rs.50 lakhs against the release of personal guarantee of all promoters and directors. The appellant refers to a letter dated 18.01.2022.
Santosh Kumar Jaiswal & Ors. filed an appeal against an order by the Adjudicating Authority (National Company Law Tribunal) Guwahati Bench, Guwahati. The Adjudicating Authority had directed that Rs.7,50,000/- be remitted to the account of the Corporate Debtor. This amount was initially deposited by the appellant in pursuance of an OTS proposal given to SBI, towards settlement for Rs.50 lakhs against the release of personal guarantee of all promoters and directors. The appellant referred to a letter dated 18.01.2022. The SBI withdrew the offer, and the amount was to be remitted back only after the initiation of proceedings under Section 10 of the IBC. The letter dated 18.01.2022 was written on behalf of 'Brahmaputra TMT Bars Pvt. Ltd.', and the SBI account statement
…Sign in to view the parties.
Application for…
Counsel for the…
This is an appeal against the order passed by the Adjudicating Authority (National Company Law Tribunal) Guwahati Bench, Guwahati, which directed that Rs.7,50,000/- be remitted to the account of the Corporate Debtor. The appellant had deposited this amount in pursuance of an OTS proposal given to SBI, towards settlement for Rs.50 lakhs against the release of personal guarantee of all promoters and directors. The appellant refers to a letter dated 18.01.2022.
Santosh Kumar Jaiswal & Ors. filed an appeal against an order by the Adjudicating Authority (National Company Law Tribunal) Guwahati Bench, Guwahati. The Adjudicating Authority had directed that Rs.7,50,000/- be remitted to the account of the Corporate Debtor. This amount was initially deposited by the appellant in pursuance of an OTS proposal given to SBI, towards settlement for Rs.50 lakhs against the release of personal guarantee of all promoters and directors. The appellant referred to a letter dated 18.01.2022. The SBI withdrew the offer, and the amount was to be remitted back only after the initiation of proceedings under Section 10 of the IBC. The letter dated 18.01.2022 was written on behalf of 'Brahmaputra TMT Bars Pvt. Ltd.', and the SBI account statement
…Application for…
Counsel for the…