The case involves an application filed by the Resolution Professional (RP) stating that they have not received any repayment plan from the guarantor. The financial creditor served notice to the personal guarantor before filing the application. The RP provided opportunity to the personal guarantor to submit a repayment plan, but no plan was submitted.
The Resolution Professional (RP) filed an application because they did not receive a repayment plan from the guarantor. The financial creditor had served notice to the personal guarantor before the application was filed. The RP provided the personal guarantor with an opportunity to submit a repayment plan. However, the personal guarantor did not submit any repayment plan. The absence of a repayment plan made the resolution of insolvency of the personal guarantor impossible.
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Attendance cum order…
The case involves an application filed by the Resolution Professional (RP) stating that they have not received any repayment plan from the guarantor. The financial creditor served notice to the personal guarantor before filing the application. The RP provided opportunity to the personal guarantor to submit a repayment plan, but no plan was submitted.
The Resolution Professional (RP) filed an application because they did not receive a repayment plan from the guarantor. The financial creditor had served notice to the personal guarantor before the application was filed. The RP provided the personal guarantor with an opportunity to submit a repayment plan. However, the personal guarantor did not submit any repayment plan. The absence of a repayment plan made the resolution of insolvency of the personal guarantor impossible.
Attendance cum order…