The case involves Interlocutory Applications (IA(IBC)/277/KOB/2023 and IA(IBC)/278/KOB/2023) filed in connection with Corporate Insolvency Resolution Processes (CIRP) initiated against personal guarantors (Dr. Bharath Chandran and Dr. Asalatha Nair) of a corporate debtor, M/s. Trivandrum International Health Services Ltd. The applications were filed by the Resolution Professional (RP) of Dhanlaxmi Bank Limited, the financial creditor, seeking to take on record reports indicating the personal guarantors' failure to submit a repayment plan within the stipulated time. The CIRP against the personal guarantors was admitted by the Tribunal on 05.05.2022.
Dhanlaxmi Bank Limited, as the Financial Creditor, initiated Corporate Insolvency Resolution Processes (CIRP) against Dr. Bharath Chandran and Dr. Asalatha Nair, who are the Personal Guarantors to the Corporate Debtor, M/s. Trivandrum International Health Services Ltd. The CIRP was admitted on 05.05.2022. The Resolution Professional (RP) made a public announcement inviting claims on 25.12.2022. The RP prepared a list of claims and filed reports before the Tribunal, stating that the Personal Guarantors failed to submit a repayment plan even after an extension of time. The Meeting of Creditors resolved to file a report before the Adjudicating Authority that no repayment plan had been received. The Personal Guarantors, through their counsel, filed a counter affidavit,
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The Tribunal admitted the Insolvency…
The Resolution…
The case involves Interlocutory Applications (IA(IBC)/277/KOB/2023 and IA(IBC)/278/KOB/2023) filed in connection with Corporate Insolvency Resolution Processes (CIRP) initiated against personal guarantors (Dr. Bharath Chandran and Dr. Asalatha Nair) of a corporate debtor, M/s. Trivandrum International Health Services Ltd. The applications were filed by the Resolution Professional (RP) of Dhanlaxmi Bank Limited, the financial creditor, seeking to take on record reports indicating the personal guarantors' failure to submit a repayment plan within the stipulated time. The CIRP against the personal guarantors was admitted by the Tribunal on 05.05.2022.
Dhanlaxmi Bank Limited, as the Financial Creditor, initiated Corporate Insolvency Resolution Processes (CIRP) against Dr. Bharath Chandran and Dr. Asalatha Nair, who are the Personal Guarantors to the Corporate Debtor, M/s. Trivandrum International Health Services Ltd. The CIRP was admitted on 05.05.2022. The Resolution Professional (RP) made a public announcement inviting claims on 25.12.2022. The RP prepared a list of claims and filed reports before the Tribunal, stating that the Personal Guarantors failed to submit a repayment plan even after an extension of time. The Meeting of Creditors resolved to file a report before the Adjudicating Authority that no repayment plan had been received. The Personal Guarantors, through their counsel, filed a counter affidavit,
…The Tribunal admitted the Insolvency…
The Resolution…