Yes Bank Ltd. (Financial Creditor) filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 (IBC) against Mr. Anil Madan (Personal Guarantor) of M/s Johnson Watch Company Private Limited (Corporate Debtor) to initiate the Personal Insolvency Resolution Process (PIRP). The Corporate Debtor had availed various credit facilities from Yes Bank Ltd. and subsequently defaulted, leading to its account being classified as a Non-Performing Asset (NPA). Demand notices, including one under Section 13(2) of the SARFAESI Act and a Form B notice under Rule 7(1) of the Rules, were issued to the Corporate Debtor and the personal guarantors. An application under Section 9 of the Code was also admitted against the Corporate Debtor. Mavent Restructuring Services

Yes Bank Ltd. (Financial Creditor) filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 (IBC) against Mr. Anil Madan (Personal Guarantor) of M/s Johnson Watch Company Private Limited (Corporate Debtor) to initiate the Personal Insolvency Resolution Process (PIRP). The Corporate Debtor had availed various credit facilities from Yes Bank Ltd. and subsequently defaulted, leading to its account being classified as a Non-Performing Asset (NPA). Demand notices, including one under Section 13(2) of the SARFAESI Act and a Form B notice under Rule 7(1) of the Rules, were issued to the Corporate Debtor and the personal guarantors. An application under Section 9 of the Code was also admitted against the Corporate Debtor. Mavent Restructuring Services