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 has not proposed a repayment plan despite having sufficient opportunity to do so.
The Resolution Professional (RP) filed an application to proceed against the personal guarantor under Section 121 of the IB Code. The personal guarantor did not propose a repayment plan despite having sufficient opportunity. The RP submitted that the personal guarantor had no objection to initiating proceedings under Section 121 of the IB Code, as per the minutes of the CoC. The court noted that no repayment plan was submitted by the RP despite the opportunity.
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Attendance cum order…
Filing of IA (IBC)…
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 has not proposed a repayment plan despite having sufficient opportunity to do so.
The Resolution Professional (RP) filed an application to proceed against the personal guarantor under Section 121 of the IB Code. The personal guarantor did not propose a repayment plan despite having sufficient opportunity. The RP submitted that the personal guarantor had no objection to initiating proceedings under Section 121 of the IB Code, as per the minutes of the CoC. The court noted that no repayment plan was submitted by the RP despite the opportunity.
Attendance cum order…
Filing of IA (IBC)…