The State Bank of India filed an application against the Personal Guarantor, Mr. Sanjay Jain, who is also the Corporate Debtor, under Section 95 of the IBC, 2016, seeking to initiate the Insolvency Resolution Process and appoint a Resolution Professional. The Respondent was served through publication in newspapers, and the publication copy was filed with the Tribunal via affidavit dated 2022-11-25. The guarantee given by the Applicant was invoked via letter dated 2013-02-26 issued by the State Bank of Travancore (Associate of the State Bank of India).
State Bank of India filed an application under Section 95 of the IBC, 2016 against Sanjay Jain, the Personal Guarantor to the Corporate Debtor. The application seeks initiation of the Insolvency Resolution Process and appointment of a Resolution Professional. The Respondent was served through publication. The guarantee was invoked by the State Bank of Travancore via letter dated 2013-02-26. Upon filing the application, an interim moratorium commenced as per Section 96(1)(a) of the IBC. The court appointed Mr. Ashish Singh as the Resolution Professional.
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The guarantee given by the Applicant was…
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The State Bank of India filed an application against the Personal Guarantor, Mr. Sanjay Jain, who is also the Corporate Debtor, under Section 95 of the IBC, 2016, seeking to initiate the Insolvency Resolution Process and appoint a Resolution Professional. The Respondent was served through publication in newspapers, and the publication copy was filed with the Tribunal via affidavit dated 2022-11-25. The guarantee given by the Applicant was invoked via letter dated 2013-02-26 issued by the State Bank of Travancore (Associate of the State Bank of India).
State Bank of India filed an application under Section 95 of the IBC, 2016 against Sanjay Jain, the Personal Guarantor to the Corporate Debtor. The application seeks initiation of the Insolvency Resolution Process and appointment of a Resolution Professional. The Respondent was served through publication. The guarantee was invoked by the State Bank of Travancore via letter dated 2013-02-26. Upon filing the application, an interim moratorium commenced as per Section 96(1)(a) of the IBC. The court appointed Mr. Ashish Singh as the Resolution Professional.
The guarantee given by the Applicant was…
Copy of the publication…