The case pertains to an application filed by UCO Bank under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, to initiate the Insolvency Resolution Process against Mr. Vinod Kumar Mittal, the personal guarantor of Gontermann-Pipers (India) Limited (GPIL), for credit facilities extended by UCO Bank to GPIL. The Adjudicating Authority appointed Mr. Partha Kamal Sen as the Resolution Professional.
UCO Bank filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Mr. Vinod Kumar Mittal, who is the personal guarantor of Gontermann-Pipers (India) Limited (GPIL). GPIL had received credit facilities from UCO Bank. Mr. Mittal defaulted on payments, leading UCO Bank to file the application. The Adjudicating Authority appointed Mr. Partha Kamal Sen as the Resolution Professional, who submitted a report recommending the admission of the application. The Resolution Professional's report indicated that Mr. Mittal had defaulted on payments and that the application satisfied the requirements under Section 95(1) of the IBC, 2016. The Adjudicating Authority considered the report and admitted the
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The case pertains to an application filed by UCO Bank under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, to initiate the Insolvency Resolution Process against Mr. Vinod Kumar Mittal, the personal guarantor of Gontermann-Pipers (India) Limited (GPIL), for credit facilities extended by UCO Bank to GPIL. The Adjudicating Authority appointed Mr. Partha Kamal Sen as the Resolution Professional.
UCO Bank filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Mr. Vinod Kumar Mittal, who is the personal guarantor of Gontermann-Pipers (India) Limited (GPIL). GPIL had received credit facilities from UCO Bank. Mr. Mittal defaulted on payments, leading UCO Bank to file the application. The Adjudicating Authority appointed Mr. Partha Kamal Sen as the Resolution Professional, who submitted a report recommending the admission of the application. The Resolution Professional's report indicated that Mr. Mittal had defaulted on payments and that the application satisfied the requirements under Section 95(1) of the IBC, 2016. The Adjudicating Authority considered the report and admitted the
…Mr. Partha Kamal Sen was appointed as the…
The order was…