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, under Section 112 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 20 of the IBBI (Insolvency Resolution Process to Personal Guarantor to Corporate Debtors) Regulations, 2019. The RP sought to take on record reports indicating that the personal guarantors failed to submit a repayment plan within the stipulated time.
Dhanlaxmi Bank Limited, the financial creditor, initiated Corporate Insolvency Resolution Processes (CIRP) against Dr. Bharath Chandran and Dr. Asalatha Nair, who are personal guarantors to the corporate debtor, M/s. Trivandrum International Health Services Ltd. The CIRP was initiated under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The NCLT admitted the Insolvency Resolution Process of the Personal Guarantors vide order dated 05.05.2022 in CP(IB)/23/KOB/2022 and CP(IB)/24/KOB/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 NCLT, stating that the personal guarantors failed to submit a repayment plan despite extensions of time. The Meeting of
…Sign in to view the parties.
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, under Section 112 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 20 of the IBBI (Insolvency Resolution Process to Personal Guarantor to Corporate Debtors) Regulations, 2019. The RP sought to take on record reports indicating that the personal guarantors failed to submit a repayment plan within the stipulated time.
Dhanlaxmi Bank Limited, the financial creditor, initiated Corporate Insolvency Resolution Processes (CIRP) against Dr. Bharath Chandran and Dr. Asalatha Nair, who are personal guarantors to the corporate debtor, M/s. Trivandrum International Health Services Ltd. The CIRP was initiated under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The NCLT admitted the Insolvency Resolution Process of the Personal Guarantors vide order dated 05.05.2022 in CP(IB)/23/KOB/2022 and CP(IB)/24/KOB/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 NCLT, stating that the personal guarantors failed to submit a repayment plan despite extensions of time. The Meeting of
…The Tribunal admitted the Insolvency…
The Resolution…