The case involves an application under Section 60(5) of the IBC, 2016 read with Rule 11 of the Insolvency & Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, for withdrawal of the application. The applicant was the personal guarantor for credit facilities obtained by M/s Aarti Suitings Pvt. Ltd. and M/s Adig Jemtex Pvt. Ltd. from the Bank of Baroda.
Mr. Madhur Jindal, represented by RP Vishnu Upadhyay, filed an application under Section 60(5) of the IBC, 2016, read with Rule 11 of the Insolvency & Bankruptcy Rules, 2019, seeking withdrawal of the application. Mr. Jindal was the personal guarantor for credit facilities obtained by M/s Aarti Suitings Pvt. Ltd. and M/s Adig Jemtex Pvt. Ltd. from the Bank of Baroda. The Bank of Baroda accepted a compromise proposal, leading to the application for withdrawal. The court granted permission for the withdrawal, and CP No. (IB)- 40/94(1)/JPR/2021 was dismissed as withdrawn.
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An application was filed under Section 60(5) of…
The court granted permission for the…
The case involves an application under Section 60(5) of the IBC, 2016 read with Rule 11 of the Insolvency & Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, for withdrawal of the application. The applicant was the personal guarantor for credit facilities obtained by M/s Aarti Suitings Pvt. Ltd. and M/s Adig Jemtex Pvt. Ltd. from the Bank of Baroda.
Mr. Madhur Jindal, represented by RP Vishnu Upadhyay, filed an application under Section 60(5) of the IBC, 2016, read with Rule 11 of the Insolvency & Bankruptcy Rules, 2019, seeking withdrawal of the application. Mr. Jindal was the personal guarantor for credit facilities obtained by M/s Aarti Suitings Pvt. Ltd. and M/s Adig Jemtex Pvt. Ltd. from the Bank of Baroda. The Bank of Baroda accepted a compromise proposal, leading to the application for withdrawal. The court granted permission for the withdrawal, and CP No. (IB)- 40/94(1)/JPR/2021 was dismissed as withdrawn.
An application was filed under Section 60(5) of…
The court granted permission for the…