The case involves an application filed by Union Bank of India (Erstwhile Andhra Bank) under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the initiation of the Insolvency Resolution Process against Mr. P.K. Balasubramanian, a personal guarantor. An earlier application against the same personal guarantor had already been filed in CP/5/CHE/2022.
Union Bank of India (Erstwhile Andhra Bank) filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Insolvency Resolution Process against Mr. P.K. Balasubramanian, who is a personal guarantor. Previously, an application against Mr. Balasubramanian was filed under CP/5/CHE/2022. The court had already appointed an Interim Resolution Professional (IRP) under Section 97 of the IBC, 2016, via an order dated 07.06.2022. Section 96 of the IBC, 2016, stipulates that an interim moratorium commences upon filing an application under Section 95, preventing further applications against the same respondent.
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An order was issued on 07.06.2022 appointing…
The hearing was held on…
The case involves an application filed by Union Bank of India (Erstwhile Andhra Bank) under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the initiation of the Insolvency Resolution Process against Mr. P.K. Balasubramanian, a personal guarantor. An earlier application against the same personal guarantor had already been filed in CP/5/CHE/2022.
Union Bank of India (Erstwhile Andhra Bank) filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Insolvency Resolution Process against Mr. P.K. Balasubramanian, who is a personal guarantor. Previously, an application against Mr. Balasubramanian was filed under CP/5/CHE/2022. The court had already appointed an Interim Resolution Professional (IRP) under Section 97 of the IBC, 2016, via an order dated 07.06.2022. Section 96 of the IBC, 2016, stipulates that an interim moratorium commences upon filing an application under Section 95, preventing further applications against the same respondent.
An order was issued on 07.06.2022 appointing…
The hearing was held on…