The application MA(IBC) No. 04/JPR/2024 was filed by the Resolution Professional under Section 99(1) read with Section 99(7) of the Insolvency and Bankruptcy Code, 2016, recommending the admission of an application filed by Bank of Baroda under Section 95 of the Code. This application sought the commencement of the Insolvency Resolution Process against the Personal Guarantor, Mrs. Sarla Devi Somani, of the Corporate Debtor, M/s Aditya Telelink Limited. The creditor had filed the main application CP No. (IB)-38/95/JPR/2023 under Section 95 of the Code read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, seeking initiation of IRP against the
…Bank of Baroda, the creditor, filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking the initiation of the Insolvency Resolution Process (IRP) against Mrs. Sarla Devi Somani, the personal guarantor of M/s Aditya Telelink Limited, the corporate debtor. The application was for a debt of Rs. 10,73,87,620.38. Ms. Pratibha Khandelwal was appointed as the Resolution Professional (RP) and directed to file a report under Section 99 of the IBC. The RP filed MA(IBC) No. 04/JPR/2024 recommending the admission of the application. The personal guarantor had committed default in repayment of her liabilities arising from the invocation of the personal guarantee towards the corporate debtor, and the liabilities remained unpaid. The application
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Ms. Pratibha Khandelwal was appointed as the…
The order…
The application MA(IBC) No. 04/JPR/2024 was filed by the Resolution Professional under Section 99(1) read with Section 99(7) of the Insolvency and Bankruptcy Code, 2016, recommending the admission of an application filed by Bank of Baroda under Section 95 of the Code. This application sought the commencement of the Insolvency Resolution Process against the Personal Guarantor, Mrs. Sarla Devi Somani, of the Corporate Debtor, M/s Aditya Telelink Limited. The creditor had filed the main application CP No. (IB)-38/95/JPR/2023 under Section 95 of the Code read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, seeking initiation of IRP against the
…Bank of Baroda, the creditor, filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking the initiation of the Insolvency Resolution Process (IRP) against Mrs. Sarla Devi Somani, the personal guarantor of M/s Aditya Telelink Limited, the corporate debtor. The application was for a debt of Rs. 10,73,87,620.38. Ms. Pratibha Khandelwal was appointed as the Resolution Professional (RP) and directed to file a report under Section 99 of the IBC. The RP filed MA(IBC) No. 04/JPR/2024 recommending the admission of the application. The personal guarantor had committed default in repayment of her liabilities arising from the invocation of the personal guarantee towards the corporate debtor, and the liabilities remained unpaid. The application
…Ms. Pratibha Khandelwal was appointed as the…
The order…