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, and this proceeding was stayed by the Hon'ble Supreme Court.
An application was filed under Section 95 of the IBC, 2016, seeking CIRP of Avinash Prakashchandra Bhandari, the Personal Guarantor, by Central Bank of India. The maintainability of the application was pending before the Hon'ble Supreme Court. The Personal Guarantor challenged the maintainability, citing an order by the Hon'ble NCLAT stating that the pendency of CIRP of the corporate debtor is not essential for proceeding against the Personal Guarantor, which was stayed by the Hon'ble Supreme Court. The Hon'ble Supreme Court dismissed the appeal on 06.05.2022 and upheld the order passed by Hon'ble NCLAT. The applicant requested the court to call for the report of the Resolution Professional. The court appointed Mr. Premraj Ramratan Laddha as the Resolution Professional
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Application filed under…
The Hon'ble Supreme Court dismissed the appeal…
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, and this proceeding was stayed by the Hon'ble Supreme Court.
An application was filed under Section 95 of the IBC, 2016, seeking CIRP of Avinash Prakashchandra Bhandari, the Personal Guarantor, by Central Bank of India. The maintainability of the application was pending before the Hon'ble Supreme Court. The Personal Guarantor challenged the maintainability, citing an order by the Hon'ble NCLAT stating that the pendency of CIRP of the corporate debtor is not essential for proceeding against the Personal Guarantor, which was stayed by the Hon'ble Supreme Court. The Hon'ble Supreme Court dismissed the appeal on 06.05.2022 and upheld the order passed by Hon'ble NCLAT. The applicant requested the court to call for the report of the Resolution Professional. The court appointed Mr. Premraj Ramratan Laddha as the Resolution Professional
…Application filed under…
The Hon'ble Supreme Court dismissed the appeal…