The State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the initiation of the Insolvency Resolution Process against Mr. T Prabhakar, who acted as a personal guarantor to a corporate debtor. A similar application, IBA/785/2020, had already been filed by IDBI Trusteeship Services Limited against the same guarantor, and an Interim Resolution Professional (IRP) had been appointed under Section 97 of the IBC by the Adjudicating Authority vide order dated 06.01.2022.
The State Bank of India (SBI) filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the initiation of the Insolvency Resolution Process against Mr. T Prabhakar, who acted as a personal guarantor to a corporate debtor. Prior to SBI's application, IDBI Trusteeship Services Limited had already filed a similar application (IBA/785/2020) against Mr. T Prabhakar in his capacity as a guarantor. The Adjudicating Authority had appointed an Interim Resolution Professional (IRP) under Section 97 of the IBC on 06.01.2022 in the application filed by IDBI Trusteeship Services Limited. Section 96 of the IBC stipulates that upon filing an application under Section 95, an interim moratorium commences, preventing further applications against
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The Adjudicating Authority appointed an…
The order dismissing…
The State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the initiation of the Insolvency Resolution Process against Mr. T Prabhakar, who acted as a personal guarantor to a corporate debtor. A similar application, IBA/785/2020, had already been filed by IDBI Trusteeship Services Limited against the same guarantor, and an Interim Resolution Professional (IRP) had been appointed under Section 97 of the IBC by the Adjudicating Authority vide order dated 06.01.2022.
The State Bank of India (SBI) filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the initiation of the Insolvency Resolution Process against Mr. T Prabhakar, who acted as a personal guarantor to a corporate debtor. Prior to SBI's application, IDBI Trusteeship Services Limited had already filed a similar application (IBA/785/2020) against Mr. T Prabhakar in his capacity as a guarantor. The Adjudicating Authority had appointed an Interim Resolution Professional (IRP) under Section 97 of the IBC on 06.01.2022 in the application filed by IDBI Trusteeship Services Limited. Section 96 of the IBC stipulates that upon filing an application under Section 95, an interim moratorium commences, preventing further applications against
…The Adjudicating Authority appointed an…
The order dismissing…