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. These applications were filed 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 Resolution Professional (RP) sought to take on record reports indicating the personal guarantors' failure to submit a repayment plan within the stipulated time.
Dhanlaxmi Bank Limited initiated Corporate Insolvency Resolution Process (CIRP) against the personal guarantors, Dr. Bharath Chandran and Dr. Asalatha Nair, of M/s. Trivandrum International Health Services Ltd. The CIRP was admitted by the NCLT vide order dated 05.05.2022 in CP(IB)/23/KOB/2022 and CP(IB)/24/KOB/2022 under Section 95 of the Insolvency and Bankruptcy Code, 2016. 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 even after an extension of time. The Meeting of Creditors resolved to file a report before the Adjudicating Authority due to the absence of a repayment plan. The
…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. These applications were filed 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 Resolution Professional (RP) sought to take on record reports indicating the personal guarantors' failure to submit a repayment plan within the stipulated time.
Dhanlaxmi Bank Limited initiated Corporate Insolvency Resolution Process (CIRP) against the personal guarantors, Dr. Bharath Chandran and Dr. Asalatha Nair, of M/s. Trivandrum International Health Services Ltd. The CIRP was admitted by the NCLT vide order dated 05.05.2022 in CP(IB)/23/KOB/2022 and CP(IB)/24/KOB/2022 under Section 95 of the Insolvency and Bankruptcy Code, 2016. 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 even after an extension of time. The Meeting of Creditors resolved to file a report before the Adjudicating Authority due to the absence of a repayment plan. The
…The Tribunal admitted the Insolvency…
The Resolution…