The State Bank of India filed an application under Section 95 of the Insolvency & Bankruptcy Code, 2016, seeking the initiation of the Insolvency Resolution Process against Ms. Sonal Garg, who is the Personal Guarantor of M/s Alupan Composite Panels Pvt. Ltd, the Corporate Debtor. The application was filed due to the corporate debtor's inability to pay its debts.
State Bank of India filed an application under Section 95 of the Insolvency & Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Ms. Sonal Garg, the Personal Guarantor of M/s Alupan Composite Panels Pvt. Ltd (Corporate Debtor). A limited notice was issued to the Respondent/Personal Guarantor. Upon filing the application, an interim-moratorium commenced under Section 96 (1) (a) of the IBC, prohibiting legal actions against the personal guarantor's debts. Mr. Vivek Parti was appointed as the Resolution Professional. The IBBI informed about the use of online databases for sections 97(2) and 98(6) of the IBC.
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Limited Notice was issued to the…
IBBI vide letter dt. 3rd June 2022 informed…
The State Bank of India filed an application under Section 95 of the Insolvency & Bankruptcy Code, 2016, seeking the initiation of the Insolvency Resolution Process against Ms. Sonal Garg, who is the Personal Guarantor of M/s Alupan Composite Panels Pvt. Ltd, the Corporate Debtor. The application was filed due to the corporate debtor's inability to pay its debts.
State Bank of India filed an application under Section 95 of the Insolvency & Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Ms. Sonal Garg, the Personal Guarantor of M/s Alupan Composite Panels Pvt. Ltd (Corporate Debtor). A limited notice was issued to the Respondent/Personal Guarantor. Upon filing the application, an interim-moratorium commenced under Section 96 (1) (a) of the IBC, prohibiting legal actions against the personal guarantor's debts. Mr. Vivek Parti was appointed as the Resolution Professional. The IBBI informed about the use of online databases for sections 97(2) and 98(6) of the IBC.
Limited Notice was issued to the…
IBBI vide letter dt. 3rd June 2022 informed…