The Resolution Professional (RP) filed an application seeking leave to proceed against the personal guarantor under Section 121 of the Insolvency and Bankruptcy Code (IBC). The basis for the application is that the personal guarantor did not propose a repayment plan despite being given sufficient opportunity. The RP also submitted that, according to the Committee of Creditors (CoC) minutes, the personal guarantor had stated no objection to initiating proceedings under Section 121 of the IBC.
The Resolution Professional (RP) filed an application seeking leave to proceed against the personal guarantor under Section 121 of the IBC. The personal guarantor did not come forward with any repayment plan despite sufficient opportunity. The RP submitted that the personal guarantor had no objection to the initiation of proceedings under Section 121 of the IBC, according to the minutes of the Committee of Creditors (CoC). The records were reviewed, and no repayment plan was submitted by the RP despite the opportunity.
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Attendance cum order…
The Resolution Professional (RP) filed an application seeking leave to proceed against the personal guarantor under Section 121 of the Insolvency and Bankruptcy Code (IBC). The basis for the application is that the personal guarantor did not propose a repayment plan despite being given sufficient opportunity. The RP also submitted that, according to the Committee of Creditors (CoC) minutes, the personal guarantor had stated no objection to initiating proceedings under Section 121 of the IBC.
The Resolution Professional (RP) filed an application seeking leave to proceed against the personal guarantor under Section 121 of the IBC. The personal guarantor did not come forward with any repayment plan despite sufficient opportunity. The RP submitted that the personal guarantor had no objection to the initiation of proceedings under Section 121 of the IBC, according to the minutes of the Committee of Creditors (CoC). The records were reviewed, and no repayment plan was submitted by the RP despite the opportunity.
Attendance cum order…