State Bank of India filed an application under Section 95(1) of the IBC, 2016, seeking to initiate the Insolvency Resolution Process (IRP) against Mr. Jai Bhagwan Bindal, the Respondent. The Applicant claimed to have issued a demand notice to the Respondent, which was duly served. The Applicant also invoked a Bank Guarantee vide letter dated 15.03.2019. Upon filing the application, an interim moratorium commenced as per Section 96(1)(a) of the IBC, in relation to all debts of the Personal Guarantor.
State Bank of India (SBI) filed an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Insolvency Resolution Process (IRP) against Mr. Jai Bhagwan Bindal. SBI claimed to have served a demand notice to Mr. Bindal, and had also invoked a bank guarantee via a letter dated 15.03.2019. Upon filing the application, an interim moratorium was automatically triggered under Section 96(1)(a) of the IBC, pertaining to the debts of the personal guarantor. The application was filed before the National Company Law Tribunal (NCLT), New Delhi Bench. The court appointed Mr. Vijender Sharma as the Resolution Professional (RP).
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State Bank of India…
Order delivered on 20.12.2022, appointing…
State Bank of India filed an application under Section 95(1) of the IBC, 2016, seeking to initiate the Insolvency Resolution Process (IRP) against Mr. Jai Bhagwan Bindal, the Respondent. The Applicant claimed to have issued a demand notice to the Respondent, which was duly served. The Applicant also invoked a Bank Guarantee vide letter dated 15.03.2019. Upon filing the application, an interim moratorium commenced as per Section 96(1)(a) of the IBC, in relation to all debts of the Personal Guarantor.
State Bank of India (SBI) filed an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Insolvency Resolution Process (IRP) against Mr. Jai Bhagwan Bindal. SBI claimed to have served a demand notice to Mr. Bindal, and had also invoked a bank guarantee via a letter dated 15.03.2019. Upon filing the application, an interim moratorium was automatically triggered under Section 96(1)(a) of the IBC, pertaining to the debts of the personal guarantor. The application was filed before the National Company Law Tribunal (NCLT), New Delhi Bench. The court appointed Mr. Vijender Sharma as the Resolution Professional (RP).
State Bank of India…
Order delivered on 20.12.2022, appointing…