The case involves a petition filed by Paisalo Digital Ltd. (financial creditor) against Amiprabhu Developers Pvt. Ltd. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code. Another petition against the principal debtor, Prabhu Shanti Real Estate Pvt. Ltd., had already been admitted. The present petition is against the corporate guarantor.
Paisalo Digital Ltd. filed a petition against Amiprabhu Developers Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, acting as a financial creditor. Amiprabhu Developers Pvt. Ltd. is the corporate guarantor. Previously, a petition against Prabhu Shanti Real Estate Pvt. Ltd., the principal debtor, had already been admitted. The Hon'ble Appellate Tribunal in Company Appeal (AT) (Insolvency) No. 347/2018 decided on 08.01.2019, that a second petition for the same claim and default is not maintainable if one petition against either the principal borrower or corporate guarantor has already been admitted. The current petition was filed against the corporate guarantor.
Sign in to view the parties.
A petition against…
The Hon'ble Appellate Tribunal in Company…
The case involves a petition filed by Paisalo Digital Ltd. (financial creditor) against Amiprabhu Developers Pvt. Ltd. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code. Another petition against the principal debtor, Prabhu Shanti Real Estate Pvt. Ltd., had already been admitted. The present petition is against the corporate guarantor.
Paisalo Digital Ltd. filed a petition against Amiprabhu Developers Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, acting as a financial creditor. Amiprabhu Developers Pvt. Ltd. is the corporate guarantor. Previously, a petition against Prabhu Shanti Real Estate Pvt. Ltd., the principal debtor, had already been admitted. The Hon'ble Appellate Tribunal in Company Appeal (AT) (Insolvency) No. 347/2018 decided on 08.01.2019, that a second petition for the same claim and default is not maintainable if one petition against either the principal borrower or corporate guarantor has already been admitted. The current petition was filed against the corporate guarantor.
A petition against…
The Hon'ble Appellate Tribunal in Company…