The case involves an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016, against Smt. Seema Gupta, a personal guarantor, by IDBI Bank Limited. The Resolution Professional (RP), Mr. Anil Kumar Mittal, was appointed and filed a report. The RP's report indicated that there was no proof of repayment of the debt by the personal guarantor to the applicant (IDBI Bank). The RP recommended the admission of the application.
IDBI Bank Limited filed an application under Section 95(1) of the IBC, 2016, against Smt. Seema Gupta, a personal guarantor. The court appointed Mr. Anil Kumar Mittal as the Resolution Professional (RP). The RP submitted a report stating that there was no proof of repayment of the debt by the personal guarantor to IDBI Bank. The RP recommended the admission of the application. The respondent's counsel argued that there was a discrepancy in the amount of debt claimed. IDBI Bank had also filed an Original Application (OA No. 1062/2019) before DRT-III, Delhi, seeking recovery of Rs. 9,93,37,298.96. The court found that the amount of default was more than Rs. one crore. The applicant bank had charged exorbitant rate of interest and has compounded interest. The corporate
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IP Mr. Anil Kumar…
The RP filed its report…
The case involves an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016, against Smt. Seema Gupta, a personal guarantor, by IDBI Bank Limited. The Resolution Professional (RP), Mr. Anil Kumar Mittal, was appointed and filed a report. The RP's report indicated that there was no proof of repayment of the debt by the personal guarantor to the applicant (IDBI Bank). The RP recommended the admission of the application.
IDBI Bank Limited filed an application under Section 95(1) of the IBC, 2016, against Smt. Seema Gupta, a personal guarantor. The court appointed Mr. Anil Kumar Mittal as the Resolution Professional (RP). The RP submitted a report stating that there was no proof of repayment of the debt by the personal guarantor to IDBI Bank. The RP recommended the admission of the application. The respondent's counsel argued that there was a discrepancy in the amount of debt claimed. IDBI Bank had also filed an Original Application (OA No. 1062/2019) before DRT-III, Delhi, seeking recovery of Rs. 9,93,37,298.96. The court found that the amount of default was more than Rs. one crore. The applicant bank had charged exorbitant rate of interest and has compounded interest. The corporate
…IP Mr. Anil Kumar…
The RP filed its report…