M/s. Intec Capital Ltd filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of the Insolvency Resolution Process against Shri Sheo Kumar Singh, the Personal Guarantor to the Corporate Debtor, Newgen Speciality Plastics Limited. The court found that the prima facie requirements of Section 95 of the Code were met. Mr. Anil Tayal was appointed as the Resolution Professional to enquire into the matter. An interim moratorium was imposed, as per Section 96 of the Code, from the date of filing the application. The matter was listed for further consideration after a month.

M/s. Intec Capital Ltd filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of the Insolvency Resolution Process against Shri Sheo Kumar Singh, the Personal Guarantor to the Corporate Debtor, Newgen Speciality Plastics Limited. The court found that the prima facie requirements of Section 95 of the Code were met. Mr. Anil Tayal was appointed as the Resolution Professional to enquire into the matter. An interim moratorium was imposed, as per Section 96 of the Code, from the date of filing the application. The matter was listed for further consideration after a month.