The Personal Guarantor, Sangeeta Ajay Goenka PG Rainbow Papers Ltd through Janak Jagjivan Shah, filed an application under Section 94 of the IBC, 2016, related to the Corporate Debtor Rainbow Papers Ltd. An affidavit dated 13.05.2024 was filed in compliance with Sec 94(4) and Sec 94(5) of IBC 2016. The application was filed through a Resolution Professional. An amendment in Regulations 2019 allows the appointment of the same Insolvency Professional for both the corporate process and the personal guarantor's insolvency process. Mr. Ramchandra Dallaram Choudhary was appointed as the Resolution Professional. The Resolution Professional is required to serve notice, examine the application, and file a report within 10 days.

The Personal Guarantor, Sangeeta Ajay Goenka PG Rainbow Papers Ltd through Janak Jagjivan Shah, filed an application under Section 94 of the IBC, 2016, related to the Corporate Debtor Rainbow Papers Ltd. An affidavit dated 13.05.2024 was filed in compliance with Sec 94(4) and Sec 94(5) of IBC 2016. The application was filed through a Resolution Professional. An amendment in Regulations 2019 allows the appointment of the same Insolvency Professional for both the corporate process and the personal guarantor's insolvency process. Mr. Ramchandra Dallaram Choudhary was appointed as the Resolution Professional. The Resolution Professional is required to serve notice, examine the application, and file a report within 10 days.