The case involves a Company Petition filed by IFCI Limited, the Financial Creditor, under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC) read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, seeking to initiate Personal Insolvency Resolution Process (CIRP) against Mrs. Shalini Rajani, the Personal Guarantor. The Corporate Debtor of the Personal Guarantor is already into CIRP.
IFCI Limited, the Financial Creditor, filed a Company Petition under Section 95 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate Personal Insolvency Resolution Process (CIRP) against Mrs. Shalini Rajani, the Personal Guarantor. The demand notice was served on the Personal Guarantor. The Personal Guarantor's counsel claimed that the petition was not served on them. The Corporate Debtor of the Personal Guarantor is already undergoing CIRP. Mr. Vasudev Ganesh Nayak was appointed as the Resolution Professional. An interim moratorium under Section 96(1)(a) of the IBC has commenced. The matter is listed for further consideration on 06.02.2023.
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Demand Notice dated…
Corporate Debtor of the Personal Guarantor…
The case involves a Company Petition filed by IFCI Limited, the Financial Creditor, under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC) read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, seeking to initiate Personal Insolvency Resolution Process (CIRP) against Mrs. Shalini Rajani, the Personal Guarantor. The Corporate Debtor of the Personal Guarantor is already into CIRP.
IFCI Limited, the Financial Creditor, filed a Company Petition under Section 95 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate Personal Insolvency Resolution Process (CIRP) against Mrs. Shalini Rajani, the Personal Guarantor. The demand notice was served on the Personal Guarantor. The Personal Guarantor's counsel claimed that the petition was not served on them. The Corporate Debtor of the Personal Guarantor is already undergoing CIRP. Mr. Vasudev Ganesh Nayak was appointed as the Resolution Professional. An interim moratorium under Section 96(1)(a) of the IBC has commenced. The matter is listed for further consideration on 06.02.2023.
Demand Notice dated…
Corporate Debtor of the Personal Guarantor…