The application was filed by the personal guarantor, Mr. Subhash Chander Mishra, under Section 94(1) of the IBC, seeking to initiate the insolvency resolution process against himself. The Resolution Professional, Mr. Prashant Sharma, was appointed and filed a report under Section 99 of the IBC, recommending the admission of the application.
Mr. Subhash Chander Mishra, the applicant and personal guarantor for Niroz Insulations Pvt. Ltd. (Corporate Debtor), filed an application under Section 94(1) of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. The application sought to initiate the insolvency resolution process against himself for a total debt of Rs. 5,35,53,097/- owed to various financial creditors. Upon presentation of the application, the Adjudicating Authority, on June 24, 2022, appointed Mr. Prashant Sharma as the Resolution Professional. Mr. Sharma was tasked with filing a report under Section 99 of IBC, 2016. Subsequently,
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Default in repa…
Notice invoking…
The application was filed by the personal guarantor, Mr. Subhash Chander Mishra, under Section 94(1) of the IBC, seeking to initiate the insolvency resolution process against himself. The Resolution Professional, Mr. Prashant Sharma, was appointed and filed a report under Section 99 of the IBC, recommending the admission of the application.
Mr. Subhash Chander Mishra, the applicant and personal guarantor for Niroz Insulations Pvt. Ltd. (Corporate Debtor), filed an application under Section 94(1) of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. The application sought to initiate the insolvency resolution process against himself for a total debt of Rs. 5,35,53,097/- owed to various financial creditors. Upon presentation of the application, the Adjudicating Authority, on June 24, 2022, appointed Mr. Prashant Sharma as the Resolution Professional. Mr. Sharma was tasked with filing a report under Section 99 of IBC, 2016. Subsequently,
…Default in repa…
Notice invoking…