The application I.A. No. 35/2022 was filed by the Resolution Professional, Mr. Jitendra Kumar Jain, seeking the closure of the Insolvency Resolution Professional process against the Personal Guarantor, Mr. Bhausaheb A. Rupnar, under Section 114 of the Insolvency & Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against Fabtech Projects and Engineers Limited based on a petition filed by Bank of Maharashtra. Subsequently, an application was filed to initiate the Insolvency Resolution Process against the Personal Guarantor. The Resolution Professional was appointed, and a public announcement was made to invite claims from creditors. A meeting was held with the guarantors to explain the process, but the guarantors did not share
…Mr. Jitendra Kumar Jain, the Resolution Professional, filed an application (I.A. No. 35/2022) seeking the closure of the Insolvency Resolution Professional process against Mr. Bhausaheb A. Rupnar, the Personal Guarantor. The application was filed under Section 114 of the Insolvency & Bankruptcy Code, 2016. Bank of Maharashtra initiated Corporate Insolvency Resolution Process (CIRP) against Fabtech Projects and Engineers Limited. Subsequently, an application was filed to initiate the Insolvency Resolution Process against the Personal Guarantor. Mr. Jitendra Kumar Jain was appointed as the Resolution Professional. A public announcement was made inviting claims from creditors. The Personal Guarantor submitted a Repayment Plan, which was disapproved by 94.71% of the
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The Bench admitted Company Petition No. 1222 of…
The Bench initiated the Insolvency Resolution…
The application I.A. No. 35/2022 was filed by the Resolution Professional, Mr. Jitendra Kumar Jain, seeking the closure of the Insolvency Resolution Professional process against the Personal Guarantor, Mr. Bhausaheb A. Rupnar, under Section 114 of the Insolvency & Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against Fabtech Projects and Engineers Limited based on a petition filed by Bank of Maharashtra. Subsequently, an application was filed to initiate the Insolvency Resolution Process against the Personal Guarantor. The Resolution Professional was appointed, and a public announcement was made to invite claims from creditors. A meeting was held with the guarantors to explain the process, but the guarantors did not share
…Mr. Jitendra Kumar Jain, the Resolution Professional, filed an application (I.A. No. 35/2022) seeking the closure of the Insolvency Resolution Professional process against Mr. Bhausaheb A. Rupnar, the Personal Guarantor. The application was filed under Section 114 of the Insolvency & Bankruptcy Code, 2016. Bank of Maharashtra initiated Corporate Insolvency Resolution Process (CIRP) against Fabtech Projects and Engineers Limited. Subsequently, an application was filed to initiate the Insolvency Resolution Process against the Personal Guarantor. Mr. Jitendra Kumar Jain was appointed as the Resolution Professional. A public announcement was made inviting claims from creditors. The Personal Guarantor submitted a Repayment Plan, which was disapproved by 94.71% of the
…The Bench admitted Company Petition No. 1222 of…
The Bench initiated the Insolvency Resolution…