The case pertains to an application filed by Mr. Anshul Baldva under Section 94 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the initiation of the Insolvency Resolution Process (IRP) as a personal guarantor to the corporate debtor, M/s Baldva Textiles Private Limited. The application is in relation to a credit facility extended by Punjab National Bank, for which the corporate debtor defaulted on an amount of Rs. 16,73,10,124/-. The Resolution Professional (RP) was appointed to file a report under Section 99 of the IBC, 2016.
Mr. Anshul Baldva filed an application under Section 94 of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of the Insolvency Resolution Process as a personal guarantor to M/s Baldva Textiles Private Limited, the corporate debtor. The application pertains to a default on a credit facility extended by Punjab National Bank, amounting to Rs. 16,73,10,124/-. The Resolution Professional (RP) was appointed and filed a report recommending the admission of the application. The RP's report indicated that the personal guarantor had committed default in repayment of debts, the debts were not excluded debts, the application was duly filed in the prescribed format, and the debtor did not fall under any prohibiting criteria. The applicant also defaulted in making
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Mr. Vishnu Upadhyay was appointed as the…
The order was pronounced on 11.01.2023,…
The case pertains to an application filed by Mr. Anshul Baldva under Section 94 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the initiation of the Insolvency Resolution Process (IRP) as a personal guarantor to the corporate debtor, M/s Baldva Textiles Private Limited. The application is in relation to a credit facility extended by Punjab National Bank, for which the corporate debtor defaulted on an amount of Rs. 16,73,10,124/-. The Resolution Professional (RP) was appointed to file a report under Section 99 of the IBC, 2016.
Mr. Anshul Baldva filed an application under Section 94 of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of the Insolvency Resolution Process as a personal guarantor to M/s Baldva Textiles Private Limited, the corporate debtor. The application pertains to a default on a credit facility extended by Punjab National Bank, amounting to Rs. 16,73,10,124/-. The Resolution Professional (RP) was appointed and filed a report recommending the admission of the application. The RP's report indicated that the personal guarantor had committed default in repayment of debts, the debts were not excluded debts, the application was duly filed in the prescribed format, and the debtor did not fall under any prohibiting criteria. The applicant also defaulted in making
…Mr. Vishnu Upadhyay was appointed as the…
The order was pronounced on 11.01.2023,…