The appeal was filed against the order dated 10.09.2024 passed by the National Company Law Tribunal (NCLT), New Delhi Bench, Court-IV. The NCLT order allowed IA No. 6697/ND/2023 and rejected CP (IB) No. 1129 (ND)/2020 and IA No. 5335/ND/2022. The appellant stood as a personal guarantor for Jungrele Info Solutions Pvt. Ltd. (Corporate Debtor) concerning an unsecured loan of Rs. 10,00,000/- availed from Barclays Bank on 09.08.2008. The bank assigned the loan to Phoenix ARC Pvt. Ltd. on 06.11.2012.
Vijender Antil, the appellant, acted as a personal guarantor for Jungrele Info Solutions Pvt. Ltd. (Corporate Debtor). The Corporate Debtor had availed an unsecured loan of Rs. 10,00,000/- from Barclays Bank on 09.08.2008. Barclays Bank assigned this loan to Phoenix ARC Pvt. Ltd. on 06.11.2012. Phoenix ARC Pvt. Ltd., the assignee/respondent, filed O.A. No. 36/2016 before the DRT, which fixed the Corporate Debtor's liability at Rs. 13,68,593/- with 13% interest p.a. The appellant then filed an application under Section 94 of the IBC, 2016, which was assigned CP (IB) No. 1129(ND)/2020. The Resolution Professional (RP) submitted reports indicating the debtor's inability to bear the expenses of the insolvency resolution process and the creditor's unwillingness to bear
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Jungrele Info Solutions Pvt. Ltd. availed an…
Barclays Bank assigned…
The appeal was filed against the order dated 10.09.2024 passed by the National Company Law Tribunal (NCLT), New Delhi Bench, Court-IV. The NCLT order allowed IA No. 6697/ND/2023 and rejected CP (IB) No. 1129 (ND)/2020 and IA No. 5335/ND/2022. The appellant stood as a personal guarantor for Jungrele Info Solutions Pvt. Ltd. (Corporate Debtor) concerning an unsecured loan of Rs. 10,00,000/- availed from Barclays Bank on 09.08.2008. The bank assigned the loan to Phoenix ARC Pvt. Ltd. on 06.11.2012.
Vijender Antil, the appellant, acted as a personal guarantor for Jungrele Info Solutions Pvt. Ltd. (Corporate Debtor). The Corporate Debtor had availed an unsecured loan of Rs. 10,00,000/- from Barclays Bank on 09.08.2008. Barclays Bank assigned this loan to Phoenix ARC Pvt. Ltd. on 06.11.2012. Phoenix ARC Pvt. Ltd., the assignee/respondent, filed O.A. No. 36/2016 before the DRT, which fixed the Corporate Debtor's liability at Rs. 13,68,593/- with 13% interest p.a. The appellant then filed an application under Section 94 of the IBC, 2016, which was assigned CP (IB) No. 1129(ND)/2020. The Resolution Professional (RP) submitted reports indicating the debtor's inability to bear the expenses of the insolvency resolution process and the creditor's unwillingness to bear
…Jungrele Info Solutions Pvt. Ltd. availed an…
Barclays Bank assigned…