The case pertains to a petition filed by Intec Capital Limited, a financial creditor, against Mr. Davinder Singh Chawla, a personal guarantor to a corporate debtor, 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, and Regulation 4(2) of the IBBI (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019. Intec Capital Limited, through its Associate Vice President Mr. Arvind Jha, initiated the Insolvency Resolution Process.
Intec Capital Limited filed a petition against Mr. Davinder Singh Chawla, who is a personal guarantor to a corporate debtor, under Section 95(1) of the Insolvency and Bankruptcy Code, 2016. A statutory notice of demand dated 2022-08-10 was served to Mr. Chawla via email on the same date, requesting a payment of Rs. 2,77,42,758/-, the amount guaranteed by him. Mr. Chawla responded on 2022-08-22, denying the liability and failing to make any payment. The Tribunal issued a limited notice to Mr. Chawla, which was served via email on 2022-11-01 and confirmed through courier on 2022-11-14. The applicant also filed an affidavit of service dated 2022-11-15. The applicant proposed Mr. Amit Talwar as the Resolution Professional, and the Tribunal appointed him. An interim
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A statutory notice of demand was issued to…
Mr. Davinder Singh Chawla replied to the…
The case pertains to a petition filed by Intec Capital Limited, a financial creditor, against Mr. Davinder Singh Chawla, a personal guarantor to a corporate debtor, 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, and Regulation 4(2) of the IBBI (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019. Intec Capital Limited, through its Associate Vice President Mr. Arvind Jha, initiated the Insolvency Resolution Process.
Intec Capital Limited filed a petition against Mr. Davinder Singh Chawla, who is a personal guarantor to a corporate debtor, under Section 95(1) of the Insolvency and Bankruptcy Code, 2016. A statutory notice of demand dated 2022-08-10 was served to Mr. Chawla via email on the same date, requesting a payment of Rs. 2,77,42,758/-, the amount guaranteed by him. Mr. Chawla responded on 2022-08-22, denying the liability and failing to make any payment. The Tribunal issued a limited notice to Mr. Chawla, which was served via email on 2022-11-01 and confirmed through courier on 2022-11-14. The applicant also filed an affidavit of service dated 2022-11-15. The applicant proposed Mr. Amit Talwar as the Resolution Professional, and the Tribunal appointed him. An interim
…A statutory notice of demand was issued to…
Mr. Davinder Singh Chawla replied to the…