The application was filed by Mr. Krishan Kumar Basia through Mr. Dharm Vir Gupta (Resolution Professional) under Section 94(1) of the Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor Rules, 2019) for initiating the Insolvency Resolution Process against Mr. Krishan Kumar Basia. The corporate insolvency resolution process was initiated against M/s. Gee Ispat Private Limited vide order dated 24.08.2017. Liquidation order of the corporate debtor was passed on 05.10.2018. The personal guarantor filed the application due to personal incapacity to repay the debts of the Corporate Debtor.
Mr. Krishan Kumar Basia executed a personal guarantee to secure the repayment of financial assistance availed by M/s Gee Ispat Pvt. Ltd. from State Bank of India. M/s Shree Ram Lime Products Pvt. Ltd. filed an application under Section 9 of the Code against the Corporate Debtor. The Corporate Insolvency Resolution Process was initiated against M/s. Gee Ispat Private Limited vide order dated 24.08.2017, and a liquidation order was passed on 05.10.2018. Due to the personal incapacity of the personal guarantor to repay the debts of the Corporate Debtor, the personal guarantor filed an application for initiating the Insolvency Resolution Process. Another Company Petition (IB) No.111 (ND)/2022 was filed by State Bank of India against Krishan Kumar Basia on 02.10.2021,
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Corporate Insolvency…
Liquidation order…
The application was filed by Mr. Krishan Kumar Basia through Mr. Dharm Vir Gupta (Resolution Professional) under Section 94(1) of the Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor Rules, 2019) for initiating the Insolvency Resolution Process against Mr. Krishan Kumar Basia. The corporate insolvency resolution process was initiated against M/s. Gee Ispat Private Limited vide order dated 24.08.2017. Liquidation order of the corporate debtor was passed on 05.10.2018. The personal guarantor filed the application due to personal incapacity to repay the debts of the Corporate Debtor.
Mr. Krishan Kumar Basia executed a personal guarantee to secure the repayment of financial assistance availed by M/s Gee Ispat Pvt. Ltd. from State Bank of India. M/s Shree Ram Lime Products Pvt. Ltd. filed an application under Section 9 of the Code against the Corporate Debtor. The Corporate Insolvency Resolution Process was initiated against M/s. Gee Ispat Private Limited vide order dated 24.08.2017, and a liquidation order was passed on 05.10.2018. Due to the personal incapacity of the personal guarantor to repay the debts of the Corporate Debtor, the personal guarantor filed an application for initiating the Insolvency Resolution Process. Another Company Petition (IB) No.111 (ND)/2022 was filed by State Bank of India against Krishan Kumar Basia on 02.10.2021,
…Corporate Insolvency…
Liquidation order…