The State Bank of India filed an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Insolvency Resolution (IR) process against Smt. Seema Dhingra, the Respondent. The Applicant had issued a demand notice to the Respondent, which was duly served. The Applicant had invoked the Bank Guarantee vide letter dated 24.09.2015.
The State Bank of India (SBI) initiated proceedings against Smt. Seema Dhingra under Section 95(1) of the IBC, 2016. SBI sought to initiate the Insolvency Resolution (IR) process against Dhingra, who is the respondent in this case. SBI had issued a demand notice to Dhingra, which was duly served. SBI had invoked a Bank Guarantee via a letter dated 24.09.2015. Upon filing the application, an interim moratorium commenced by operation of law under Section 96(1)(a) of the IBC, concerning the debts of the Personal Guarantor. The court appointed Mr. Chanchal Dua as the Resolution Professional (RP).
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State Bank of India…
Order delivered by the…
The State Bank of India filed an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Insolvency Resolution (IR) process against Smt. Seema Dhingra, the Respondent. The Applicant had issued a demand notice to the Respondent, which was duly served. The Applicant had invoked the Bank Guarantee vide letter dated 24.09.2015.
The State Bank of India (SBI) initiated proceedings against Smt. Seema Dhingra under Section 95(1) of the IBC, 2016. SBI sought to initiate the Insolvency Resolution (IR) process against Dhingra, who is the respondent in this case. SBI had issued a demand notice to Dhingra, which was duly served. SBI had invoked a Bank Guarantee via a letter dated 24.09.2015. Upon filing the application, an interim moratorium commenced by operation of law under Section 96(1)(a) of the IBC, concerning the debts of the Personal Guarantor. The court appointed Mr. Chanchal Dua as the Resolution Professional (RP).
State Bank of India…
Order delivered by the…