# In the matter of Piramal Capital & Housing Finance Ltd Vs. Parul Thakkr, CP (IB)/160(AHM)/2022

> NCLT judgment dated 2022-06-24. Citation: TCN-2022-NCLT-04641. The application is filed by the Financial Creditor under Section 95 of the Code seeking…

- **Court:** NCLT
- **Order date:** 24 Jun 2022
- **Citation:** TCN-2022-NCLT-04641
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/piramal-capital-housing-finance-ltd-vs-parul-thakkr-cp-2fa85dd6

## Summary

### Background

The application is filed by the Financial Creditor under Section 95 of the Code seeking initiation of Insolvency Resolution Process against the personal guarantor of the Corporate Debtor, namely, Mrs. Parul Thakkar.

## Facts

Application filed by Financial Creditor under Section 95 of the Code.

The application seeks initiation of Insolvency Resolution Process against the personal guarantor of the Corporate Debtor, Mrs. Parul Thakkar.

Mr. Hiten Ratilal Abhani is appointed as Resolution Professional.

Interim Moratorium under Section 96 of the Code shall commence from the date of application.

The RP is directed to file a report within ten days.

## Issues and analysis

### Issue 1: Whether to initiate Insolvency Resolution Process against the personal guarantor of the Corporate …

**Ratio:** Based on the application filed

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**Reasoning:** The Financial Creditor has filed an application seeking initiation of Insolvency

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**Interpretation:** Section 95 of the Code allows a creditor to initiate insolvency resolution

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**Application:** The court considered the application

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## Parties

- **Judges:** Dr.Deepti…; Ajai Das Me…
- **Appellants:** PIRAMAL CAPITAL &…
- **Respondents:** Parul T…
- **Other parties:** Hiten Ratilal…
- **Advocates:** Manish…; Jay Kan…; +1 more

## Timeline

- **2022-06-24 — Order Del…**: Order delivered on…
- **2022-08-04 — Listing…**: List on 04.0…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95 — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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