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. 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. The court considered this prior order and the fact that a petition against the principal debtor was already admitted.
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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. 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. The court considered this prior order and the fact that a petition against the principal debtor was already admitted.
A petition against…
The Hon'ble Appellate Tribunal in Company…