State Bank of India filed an application under Section 95 of the Insolvency & Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Mr. Vinod Kumar Garg, the Personal Guarantor of M/s Alupan Composite Panels Pvt. Ltd. The application was filed because Mr. Garg provided a personal guarantee for the debts of the corporate debtor, Alupan Composite Panels Pvt. Ltd. Upon filing the application, an interim-moratorium commenced, staying any pending legal actions against the personal guarantor and prohibiting creditors from initiating new actions. The court appointed Mr. Vivek Parti as the Resolution Professional to assess the application and make recommendations.

State Bank of India filed an application under Section 95 of the Insolvency & Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Mr. Vinod Kumar Garg, the Personal Guarantor of M/s Alupan Composite Panels Pvt. Ltd. The application was filed because Mr. Garg provided a personal guarantee for the debts of the corporate debtor, Alupan Composite Panels Pvt. Ltd. Upon filing the application, an interim-moratorium commenced, staying any pending legal actions against the personal guarantor and prohibiting creditors from initiating new actions. The court appointed Mr. Vivek Parti as the Resolution Professional to assess the application and make recommendations.