Bank of Maharashtra filed an application under Section 95(1) of the IBC against Mr. Binod Kumar Jain, who is a personal guarantor to M/s. Earth International Private Limited (Corporate Debtor). The application seeks initiation of the Insolvency Resolution Process (IRP) against the personal guarantor. A demand notice dated 17.09.2022 was issued to the personal guarantor demanding payment of the default amount. The application included the demand notice as Annexure A-4. The court noted that the service of the application was made to the Personal Guarantor but not upon the Corporate Debtor. The interim moratorium under Section 96(1)(a) of IBC has commenced. Mr. Santanu Kumar Samanta was appointed as the Resolution Professional.

Bank of Maharashtra filed an application under Section 95(1) of the IBC against Mr. Binod Kumar Jain, who is a personal guarantor to M/s. Earth International Private Limited (Corporate Debtor). The application seeks initiation of the Insolvency Resolution Process (IRP) against the personal guarantor. A demand notice dated 17.09.2022 was issued to the personal guarantor demanding payment of the default amount. The application included the demand notice as Annexure A-4. The court noted that the service of the application was made to the Personal Guarantor but not upon the Corporate Debtor. The interim moratorium under Section 96(1)(a) of IBC has commenced. Mr. Santanu Kumar Samanta was appointed as the Resolution Professional.