The case involves an application (I.A. No. 203/2022) filed by the Resolution Professional, Mr. Manoj Kumar Mishra, seeking the closure of the Insolvency Resolution Process against the Personal Guarantor, Mr. Ameet Rupnar. The Corporate Insolvency Resolution Process (CIRP) was initiated against Fabtech Projects & Engineers Limited, the Corporate Debtor, by Bank of Maharashtra, the Financial Creditor. Subsequently, an application was filed to initiate the Insolvency Resolution Process against the Personal Guarantor. The Personal Guarantor submitted a Repayment Plan, which was disapproved by the Committee of Creditors (COC).
Bank of Maharashtra initiated Corporate Insolvency Resolution Process (CIRP) against Fabtech Projects & Engineers Limited. Subsequently, an application was filed to initiate Insolvency Resolution Process against Mr. Ameet Rupnar, the Personal Guarantor. Mr. Manoj Kumar Mishra was appointed as the Resolution Professional. The Personal Guarantor submitted a Repayment Plan to the Resolution Professional. The Resolution Professional presented the Repayment Plan to the Committee of Creditors (COC). The COC rejected the Repayment Plan with 100% voting against it. The Resolution Professional then filed an application (I.A. No. 203/2022) seeking closure of the Insolvency Resolution Process against the Personal Guarantor. The Personal Guarantors had previously filed a Writ
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The Bench admitted Company Petition No. 1222 of…
The Bench initiated the Insolvency Resolution…
The case involves an application (I.A. No. 203/2022) filed by the Resolution Professional, Mr. Manoj Kumar Mishra, seeking the closure of the Insolvency Resolution Process against the Personal Guarantor, Mr. Ameet Rupnar. The Corporate Insolvency Resolution Process (CIRP) was initiated against Fabtech Projects & Engineers Limited, the Corporate Debtor, by Bank of Maharashtra, the Financial Creditor. Subsequently, an application was filed to initiate the Insolvency Resolution Process against the Personal Guarantor. The Personal Guarantor submitted a Repayment Plan, which was disapproved by the Committee of Creditors (COC).
Bank of Maharashtra initiated Corporate Insolvency Resolution Process (CIRP) against Fabtech Projects & Engineers Limited. Subsequently, an application was filed to initiate Insolvency Resolution Process against Mr. Ameet Rupnar, the Personal Guarantor. Mr. Manoj Kumar Mishra was appointed as the Resolution Professional. The Personal Guarantor submitted a Repayment Plan to the Resolution Professional. The Resolution Professional presented the Repayment Plan to the Committee of Creditors (COC). The COC rejected the Repayment Plan with 100% voting against it. The Resolution Professional then filed an application (I.A. No. 203/2022) seeking closure of the Insolvency Resolution Process against the Personal Guarantor. The Personal Guarantors had previously filed a Writ
…The Bench admitted Company Petition No. 1222 of…
The Bench initiated the Insolvency Resolution…