Mr. Akash Jindal, the applicant, was the personal guarantor for credit facilities obtained by M/s Adig Jemtex Pvt. Ltd. from the Bank of Baroda. An application was filed under Section 60(5) of the IBC, 2016 read with Rule 11 of the Insolvency & Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. Subsequently, a compromise proposal was accepted by the Bank of Baroda. Based on this compromise, the applicant sought to withdraw the initial application. The court granted permission for the withdrawal, leading to the dismissal of CP No. (IB)-80/94(1)/JPR/2021.

Mr. Akash Jindal, the applicant, was the personal guarantor for credit facilities obtained by M/s Adig Jemtex Pvt. Ltd. from the Bank of Baroda. An application was filed under Section 60(5) of the IBC, 2016 read with Rule 11 of the Insolvency & Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. Subsequently, a compromise proposal was accepted by the Bank of Baroda. Based on this compromise, the applicant sought to withdraw the initial application. The court granted permission for the withdrawal, leading to the dismissal of CP No. (IB)-80/94(1)/JPR/2021.