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, with an outstanding amount of Rs. 16,73,10,124/-. The Resolution Professional (RP) filed a report under Section 99(1) of the IBC, recommending the admission of the application.
Mr. Anshul Baldva filed an application under Section 94 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Insolvency Resolution Process as a personal guarantor. He is the personal guarantor for M/s Baldva Textiles Private Limited, the corporate debtor. The debt in question amounts to Rs. 16,73,10,124/-, related to a credit facility from Punjab National Bank. The Resolution Professional (RP) appointed earlier, Mr. Vishnu Upadhyay, filed a report recommending the admission of the application. The RP's report indicated that Mr. Baldva defaulted on repayment, the debt is not excluded, the application was properly filed, and Mr. Baldva does not fall under any prohibiting criteria. In addition to the debt owed to Punjab National Bank, Mr. Baldva has also
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Mr. Vishnu Upadhyay was…
The order was pronounced, admitting the…
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, with an outstanding amount of Rs. 16,73,10,124/-. The Resolution Professional (RP) filed a report under Section 99(1) of the IBC, recommending the admission of the application.
Mr. Anshul Baldva filed an application under Section 94 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Insolvency Resolution Process as a personal guarantor. He is the personal guarantor for M/s Baldva Textiles Private Limited, the corporate debtor. The debt in question amounts to Rs. 16,73,10,124/-, related to a credit facility from Punjab National Bank. The Resolution Professional (RP) appointed earlier, Mr. Vishnu Upadhyay, filed a report recommending the admission of the application. The RP's report indicated that Mr. Baldva defaulted on repayment, the debt is not excluded, the application was properly filed, and Mr. Baldva does not fall under any prohibiting criteria. In addition to the debt owed to Punjab National Bank, Mr. Baldva has also
…Mr. Vishnu Upadhyay was…
The order was pronounced, admitting the…