Two appeals, Comp. App. (AT) (Ins) No. 660 of 2022 and Comp. App. (AT) (Ins.) No. 1021 of 2022, were filed against the admission of applications under Section 95(1) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 4(2) of IBBI Regulations, 2019, by the State Bank of India for initiation of Insolvency Resolution Process against the Appellants, who are Personal Guarantors of M/s Modern India Con-Cast Limited. The Impugned Orders dated 11.02.2022 and 22.04.2022 imposed a moratorium and appointed a Resolution Professional. The Appellants challenged the vires of Section 95 of the Code, which was under challenge in the Supreme Court.
Tejinder Singh Saini and Amardeep Singh Dhanjal filed appeals against the State Bank of India after applications under Section 95(1) of the Insolvency & Bankruptcy Code, 2016 were admitted against them in their capacity as personal guarantors to M/s Modern India Con-Cast Limited. The State Bank of India initiated the Insolvency Resolution Process. The Impugned Orders imposed a moratorium and appointed a Resolution Professional. The appellants challenged the vires of Section 95 of the Code, which was under challenge in the Hon'ble Supreme Court in Writ Petition (Civil) No. 1281 of 2021. The Writ Petition (Civil) No. 1281 of 2021 was dismissed on 09.11.2023.
Sign in to view the parties.
Impugned Order dated 11.02.2022 imposing…
Impugned Order passed…
Two appeals, Comp. App. (AT) (Ins) No. 660 of 2022 and Comp. App. (AT) (Ins.) No. 1021 of 2022, were filed against the admission of applications under Section 95(1) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 4(2) of IBBI Regulations, 2019, by the State Bank of India for initiation of Insolvency Resolution Process against the Appellants, who are Personal Guarantors of M/s Modern India Con-Cast Limited. The Impugned Orders dated 11.02.2022 and 22.04.2022 imposed a moratorium and appointed a Resolution Professional. The Appellants challenged the vires of Section 95 of the Code, which was under challenge in the Supreme Court.
Tejinder Singh Saini and Amardeep Singh Dhanjal filed appeals against the State Bank of India after applications under Section 95(1) of the Insolvency & Bankruptcy Code, 2016 were admitted against them in their capacity as personal guarantors to M/s Modern India Con-Cast Limited. The State Bank of India initiated the Insolvency Resolution Process. The Impugned Orders imposed a moratorium and appointed a Resolution Professional. The appellants challenged the vires of Section 95 of the Code, which was under challenge in the Hon'ble Supreme Court in Writ Petition (Civil) No. 1281 of 2021. The Writ Petition (Civil) No. 1281 of 2021 was dismissed on 09.11.2023.
Impugned Order dated 11.02.2022 imposing…
Impugned Order passed…