The case involves an application under Section 94 of the Insolvency and Bankruptcy Code, 2016, filed by Mamtaben Hareshbhai Bhalodiya, a personal guarantor to Aricon Papers Private Limited, for initiation of the Insolvency Resolution Process. The application is related to credit facilities provided by Small Industries Development Bank of India (SIDBI).
Mamtaben Hareshbhai Bhalodiya filed an application under Section 94 of the IBC as a personal guarantor to Aricon Papers Private Limited.
The application was filed in relation to credit facilities extended by Small Industries Development Bank of India (SIDBI).
The IRP, Mr. Rahul Shah, filed a report recommending the admission of the application.
SIDBI opposed the admission, citing procedural defects and arguing that the application was filed to stall SARFAESI proceedings.
The Adjudicating Authority admitted the application under Section 100 of the IBC, initiating the insolvency resolution process.
A moratorium was imposed under Section 101 of the IBC.
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The present Company Petition was filed by the…
The Authority appointed…
The case involves an application under Section 94 of the Insolvency and Bankruptcy Code, 2016, filed by Mamtaben Hareshbhai Bhalodiya, a personal guarantor to Aricon Papers Private Limited, for initiation of the Insolvency Resolution Process. The application is related to credit facilities provided by Small Industries Development Bank of India (SIDBI).
Mamtaben Hareshbhai Bhalodiya filed an application under Section 94 of the IBC as a personal guarantor to Aricon Papers Private Limited.
The application was filed in relation to credit facilities extended by Small Industries Development Bank of India (SIDBI).
The IRP, Mr. Rahul Shah, filed a report recommending the admission of the application.
SIDBI opposed the admission, citing procedural defects and arguing that the application was filed to stall SARFAESI proceedings.
The Adjudicating Authority admitted the application under Section 100 of the IBC, initiating the insolvency resolution process.
A moratorium was imposed under Section 101 of the IBC.
The present Company Petition was filed by the…
The Authority appointed…