An application was filed under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the Corporate Insolvency Resolution Process (CIRP) of the Personal Guarantor. The issuance of notice was pending due to the issue of maintainability being before the Hon'ble Supreme Court. A Resolution Professional had not been appointed, and a report was not called for. The Personal Guarantor challenged the maintainability of the application, arguing that an order passed by the Hon'ble NCLAT declared that the pendency of CIRP of the corporate debtor is not essential for proceeding against the Personal Guarantor. The Hon'ble Supreme Court had stayed the proceedings against the Personal Guarantor, and the matter was pending consideration.
An application was filed under Section 95 of the IBC, 2016, seeking CIRP of the Personal Guarantor, Avinash Prakashchandra Bhandari. The issue of maintainability was pending before the Hon'ble Supreme Court. The Personal Guarantor challenged the maintainability of the application based on an order passed by the Hon'ble NCLAT, which stated that the pendency of CIRP of the corporate debtor is not essential for proceeding against the Personal Guarantor. The Hon'ble Supreme Court had stayed the proceedings against the Personal Guarantor. The Hon'ble Supreme Court dismissed the appeal on 06.05.2022 and upheld the order passed by Hon'ble NCLAT. The applicant requested a report from the Resolution Professional. The court appointed Resolution Professional Mr. Premraj Ramratan
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The Hon'ble Supreme Court dismissed the appeal…
Order delivere…
An application was filed under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the Corporate Insolvency Resolution Process (CIRP) of the Personal Guarantor. The issuance of notice was pending due to the issue of maintainability being before the Hon'ble Supreme Court. A Resolution Professional had not been appointed, and a report was not called for. The Personal Guarantor challenged the maintainability of the application, arguing that an order passed by the Hon'ble NCLAT declared that the pendency of CIRP of the corporate debtor is not essential for proceeding against the Personal Guarantor. The Hon'ble Supreme Court had stayed the proceedings against the Personal Guarantor, and the matter was pending consideration.
An application was filed under Section 95 of the IBC, 2016, seeking CIRP of the Personal Guarantor, Avinash Prakashchandra Bhandari. The issue of maintainability was pending before the Hon'ble Supreme Court. The Personal Guarantor challenged the maintainability of the application based on an order passed by the Hon'ble NCLAT, which stated that the pendency of CIRP of the corporate debtor is not essential for proceeding against the Personal Guarantor. The Hon'ble Supreme Court had stayed the proceedings against the Personal Guarantor. The Hon'ble Supreme Court dismissed the appeal on 06.05.2022 and upheld the order passed by Hon'ble NCLAT. The applicant requested a report from the Resolution Professional. The court appointed Resolution Professional Mr. Premraj Ramratan
…The Hon'ble Supreme Court dismissed the appeal…
Order delivere…