The case involves an Interlocutory Application (I.A. No. 200/2022) filed by the Resolution Professional, Mr. Manoj Kumar Mishra, seeking closure of the Insolvency Resolution Process against the Personal Guarantor, Mr. Neelvarna Rupnar, under Section 114 of the Insolvency & Bankruptcy Code, 2016. The corporate debtor, Fabtech Projects and Engineers Limited, had its Company Petition admitted on 24.09.2019 by Bank of Maharashtra under Section 7 of the Code. An Interim Resolution Professional was appointed for the Corporate Debtor. The Personal Guarantor's repayment plan was disapproved by the PG-COC with 100% voting against it.
Mr. Manoj Kumar Mishra, the Resolution Professional, filed an Interlocutory Application (I.A. No. 200/2022) under Section 114 of the Insolvency & Bankruptcy Code, 2016, seeking closure of the Personal Insolvency Resolution Process (PIRP) against Mr. Neelvarna Rupnar, the Personal Guarantor. Bank of Maharashtra, the Financial Creditor, had filed a Company Petition against Fabtech Projects and Engineers Limited, the Corporate Debtor, which was admitted on 24.09.2019. An Interim Resolution Professional was appointed for the Corporate Debtor. The State Bank of India had also filed an application for initiating the Insolvency Resolution Process against the Personal Guarantor. The Insolvency Resolution Process against the Personal Guarantor was initiated on 22.02.2021,
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Company Petition No. 1222 of 2019 filed by Bank…
The Insolvency Resolution Process against the…
The case involves an Interlocutory Application (I.A. No. 200/2022) filed by the Resolution Professional, Mr. Manoj Kumar Mishra, seeking closure of the Insolvency Resolution Process against the Personal Guarantor, Mr. Neelvarna Rupnar, under Section 114 of the Insolvency & Bankruptcy Code, 2016. The corporate debtor, Fabtech Projects and Engineers Limited, had its Company Petition admitted on 24.09.2019 by Bank of Maharashtra under Section 7 of the Code. An Interim Resolution Professional was appointed for the Corporate Debtor. The Personal Guarantor's repayment plan was disapproved by the PG-COC with 100% voting against it.
Mr. Manoj Kumar Mishra, the Resolution Professional, filed an Interlocutory Application (I.A. No. 200/2022) under Section 114 of the Insolvency & Bankruptcy Code, 2016, seeking closure of the Personal Insolvency Resolution Process (PIRP) against Mr. Neelvarna Rupnar, the Personal Guarantor. Bank of Maharashtra, the Financial Creditor, had filed a Company Petition against Fabtech Projects and Engineers Limited, the Corporate Debtor, which was admitted on 24.09.2019. An Interim Resolution Professional was appointed for the Corporate Debtor. The State Bank of India had also filed an application for initiating the Insolvency Resolution Process against the Personal Guarantor. The Insolvency Resolution Process against the Personal Guarantor was initiated on 22.02.2021,
…Company Petition No. 1222 of 2019 filed by Bank…
The Insolvency Resolution Process against the…