The document pertains to two Interlocutory Applications (IAs), IA/1413(AHM)2024 and IA/1478(AHM)2024, filed under Section 112 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of the NCLT Rules, 2016. These applications seek approval of the repayment plans submitted by the Personal Guarantors of M/s. Texon Global Private Limited. The applications arise from Corporate Insolvency Resolution Processes (CIRPs) initiated against the personal guarantors, Smt. Husna Mohammed Sadiq and Shri Sajid Mohammed Farooqui. The Resolution Professional (RP), CA Vineeta Maheshwari, filed these applications after conducting meetings with creditors and receiving revised repayment plans from the personal guarantors. The primary creditor is Canara Bank, which submitted
…The case involves Individual Insolvency Resolution Processes (IIRPs) initiated against Smt. Husna Mohammed Sadiq and Shri Sajid Mohammed Farooqui, who are personal guarantors to M/s. Texon Global Private Limited. Canara Bank is the primary financial creditor. CA Vineeta Maheshwari serves as the Resolution Professional (RP) for both cases. The IIRPs were initiated following applications under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The RP convened multiple meetings of creditors to discuss and revise the repayment plans submitted by the personal guarantors. The initial repayment plans were deemed insufficient by the creditors, leading to revisions and resubmissions. The creditors ultimately approved the revised repayment plans with a 100% voting
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Interim Moratorium of Individual Insolvency…
Intimation of initiation of Interim…
The document pertains to two Interlocutory Applications (IAs), IA/1413(AHM)2024 and IA/1478(AHM)2024, filed under Section 112 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of the NCLT Rules, 2016. These applications seek approval of the repayment plans submitted by the Personal Guarantors of M/s. Texon Global Private Limited. The applications arise from Corporate Insolvency Resolution Processes (CIRPs) initiated against the personal guarantors, Smt. Husna Mohammed Sadiq and Shri Sajid Mohammed Farooqui. The Resolution Professional (RP), CA Vineeta Maheshwari, filed these applications after conducting meetings with creditors and receiving revised repayment plans from the personal guarantors. The primary creditor is Canara Bank, which submitted
…The case involves Individual Insolvency Resolution Processes (IIRPs) initiated against Smt. Husna Mohammed Sadiq and Shri Sajid Mohammed Farooqui, who are personal guarantors to M/s. Texon Global Private Limited. Canara Bank is the primary financial creditor. CA Vineeta Maheshwari serves as the Resolution Professional (RP) for both cases. The IIRPs were initiated following applications under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The RP convened multiple meetings of creditors to discuss and revise the repayment plans submitted by the personal guarantors. The initial repayment plans were deemed insufficient by the creditors, leading to revisions and resubmissions. The creditors ultimately approved the revised repayment plans with a 100% voting
…Interim Moratorium of Individual Insolvency…
Intimation of initiation of Interim…