The case pertains to an application filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019. The application seeks to initiate the Insolvency Resolution Process against Mrs. Rajshree Dugar, who is a personal guarantor to the debts of Indian Gem & Jewellery Imperial Private Limited (IG&JIPL) owed to Indian Bank. The Adjudicating Authority appointed Mr. Tarun Kumar Ray as the Resolution Professional.
Indian Bank filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Insolvency Resolution Process (IRP) against Mrs. Rajshree Dugar, who is the personal guarantor for the debts of Indian Gem & Jewellery Imperial Private Limited (IG&JIPL). IG&JIPL availed credit facilities from Indian Bank. Mrs. Dugar guaranteed the debts of IG&JIPL to Indian Bank. Indian Bank served a demand notice to Mrs. Dugar demanding payment of the defaulted amount. Mrs. Dugar failed to pay the debt within fourteen days of the service of the demand notice. The Adjudicating Authority appointed Mr. Tarun Kumar Ray as the Resolution Professional (RP). The RP filed a report recommending the admission of the application. The RP also
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The Adjudicating Authority appointed Mr. Tarun…
Order Reser…
The case pertains to an application filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019. The application seeks to initiate the Insolvency Resolution Process against Mrs. Rajshree Dugar, who is a personal guarantor to the debts of Indian Gem & Jewellery Imperial Private Limited (IG&JIPL) owed to Indian Bank. The Adjudicating Authority appointed Mr. Tarun Kumar Ray as the Resolution Professional.
Indian Bank filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Insolvency Resolution Process (IRP) against Mrs. Rajshree Dugar, who is the personal guarantor for the debts of Indian Gem & Jewellery Imperial Private Limited (IG&JIPL). IG&JIPL availed credit facilities from Indian Bank. Mrs. Dugar guaranteed the debts of IG&JIPL to Indian Bank. Indian Bank served a demand notice to Mrs. Dugar demanding payment of the defaulted amount. Mrs. Dugar failed to pay the debt within fourteen days of the service of the demand notice. The Adjudicating Authority appointed Mr. Tarun Kumar Ray as the Resolution Professional (RP). The RP filed a report recommending the admission of the application. The RP also
…The Adjudicating Authority appointed Mr. Tarun…
Order Reser…