The case pertains to a Company Petition (IB/278/2022) before the National Company Law Tribunal (NCLT), Hyderabad Bench. The Financial Creditor filed an application, but the Personal Guarantor passed away before the institution of representation of this application.
The key facts are as follows: A Company Petition (IB/278/2022) was filed. The Personal Guarantor, Mr. Pandu Ranga Rao, passed away before the institution of representation of the application. The Financial Creditor's counsel acknowledged the death and requested the dismissal of the application. The relevance of these facts is that the death of the Personal Guarantor prior to proper institution of the application renders the petition unsustainable.
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Hearing of National Company Law Tribunal,…
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The case pertains to a Company Petition (IB/278/2022) before the National Company Law Tribunal (NCLT), Hyderabad Bench. The Financial Creditor filed an application, but the Personal Guarantor passed away before the institution of representation of this application.
The key facts are as follows: A Company Petition (IB/278/2022) was filed. The Personal Guarantor, Mr. Pandu Ranga Rao, passed away before the institution of representation of the application. The Financial Creditor's counsel acknowledged the death and requested the dismissal of the application. The relevance of these facts is that the death of the Personal Guarantor prior to proper institution of the application renders the petition unsustainable.
Hearing of National Company Law Tribunal,…
Sign in to view related legal provisions.