The case pertains to the insolvency resolution process of Mr. Anil Baldva, a personal guarantor to the Corporate Debtor, M/s Baldva Textiles Private Limited. Mr. Vishnu Upadhyay, the Resolution Professional, filed an application under Section 112 of the Insolvency and Bankruptcy Code, 2016, seeking approval of the repayment plan. The Adjudicating Authority had previously admitted the application under Section 100 of IBC, 2016, initiating the Individual Insolvency Resolution Process against Mr. Amar Baldva. The Resolution Professional was directed to publish a public notice and prepare a list of creditors. The debtor submitted multiple repayment plans, and the final repayment plan was approved by the majority of the creditors.
Mr. Anil Baldva is a personal guarantor to the Corporate Debtor, M/s Baldva Textiles Private Limited. An application was filed under Section 94(1) of the IBC, 2016, for initiating the Individual Insolvency Resolution Process against Mr. Anil Baldva. The Adjudicating Authority admitted the application under Section 100 of IBC, 2016. Mr. Vishnu Upadhyay was appointed as the Resolution Professional. The Resolution Professional prepared a repayment plan, which was approved by the majority of the creditors. The repayment plan includes the sale proceeds from a residential house and a loan from relatives, totaling Rs. 272 Lakhs. The secured creditors include Punjab National Bank and Indiabulls Housing Finance Limited. The date of commencement of insolvency proceedings against
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Personal Guarantor/Debtor filed an application…
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The case pertains to the insolvency resolution process of Mr. Anil Baldva, a personal guarantor to the Corporate Debtor, M/s Baldva Textiles Private Limited. Mr. Vishnu Upadhyay, the Resolution Professional, filed an application under Section 112 of the Insolvency and Bankruptcy Code, 2016, seeking approval of the repayment plan. The Adjudicating Authority had previously admitted the application under Section 100 of IBC, 2016, initiating the Individual Insolvency Resolution Process against Mr. Amar Baldva. The Resolution Professional was directed to publish a public notice and prepare a list of creditors. The debtor submitted multiple repayment plans, and the final repayment plan was approved by the majority of the creditors.
Mr. Anil Baldva is a personal guarantor to the Corporate Debtor, M/s Baldva Textiles Private Limited. An application was filed under Section 94(1) of the IBC, 2016, for initiating the Individual Insolvency Resolution Process against Mr. Anil Baldva. The Adjudicating Authority admitted the application under Section 100 of IBC, 2016. Mr. Vishnu Upadhyay was appointed as the Resolution Professional. The Resolution Professional prepared a repayment plan, which was approved by the majority of the creditors. The repayment plan includes the sale proceeds from a residential house and a loan from relatives, totaling Rs. 272 Lakhs. The secured creditors include Punjab National Bank and Indiabulls Housing Finance Limited. The date of commencement of insolvency proceedings against
…Personal Guarantor/Debtor filed an application…
Adjudicating Authority…