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 IBC, 2016, seeking to initiate the Insolvency Resolution Process against Mr. P.K. Balasubramanian, who is a personal guarantor. A previous application against Mr. Balasubramanian had already been filed in CP/5/CHE/2022. The court notes that an Interim Resolution Professional (IRP) had already been appointed under Section 97 of the IBC, 2016, in an order dated 07.06.2022. Section 96 of the IBC, 2016, states that upon filing an application under Section 95, an interim moratorium commences, preventing further applications against the same respondent in any forum.
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An order was issued on this date appointing…
Hearing 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 IBC, 2016, seeking to initiate the Insolvency Resolution Process against Mr. P.K. Balasubramanian, who is a personal guarantor. A previous application against Mr. Balasubramanian had already been filed in CP/5/CHE/2022. The court notes that an Interim Resolution Professional (IRP) had already been appointed under Section 97 of the IBC, 2016, in an order dated 07.06.2022. Section 96 of the IBC, 2016, states that upon filing an application under Section 95, an interim moratorium commences, preventing further applications against the same respondent in any forum.
An order was issued on this date appointing…
Hearing held on…