The case involves a challenge to the eligibility of Respondent No. 3 to submit a resolution plan under Section 29A(h) of the Insolvency and Bankruptcy Code (IBC). MBL Infrastructures Limited (Respondent No. 1) obtained loans from a consortium of banks. Upon failure to repay, some banks invoked personal guarantees extended by Mr. Anjanee Kumar Lakhotiya (Respondent No. 3). RBL Bank filed an application under Section 7 of the IBC before the National Company Law Tribunal (NCLT), Kolkata, initiating the corporate insolvency resolution process (CIRP) against Respondent No. 1. The NCLT admitted the application and appointed an Interim Resolution Professional. Two resolution plans were received, one authored by Respondent No. 3. Section 29A was introduced, leading to
…MBL Infrastructures Limited (Respondent No. 1) was set up by Mr. Anjanee Kumar Lakhotiya (Respondent No. 3) in the early 1990s. Respondent No. 1 obtained loans from a consortium of banks, including State Bank of Mysore (now State Bank of India). Upon Respondent No. 1's failure to repay, some respondents invoked personal guarantees extended by Respondent No. 3. RBL Bank issued a notice under Section 13(2) of the SARFAESI Act after invoking Respondent No. 3's personal guarantee. Allahabad Bank and State Bank of Bikaner and Jaipur took similar action. RBL Bank filed an application under Section 7 of the IBC before the NCLT, Kolkata, initiating CIRP against Respondent No. 1. The NCLT admitted the application. Two resolution plans were received, one authored by Respondent
…Sign in to view the parties.
MBL Infrastructures Limited (Respondent No. 1)…
RBL Bank issued a notice under Section…
The case involves a challenge to the eligibility of Respondent No. 3 to submit a resolution plan under Section 29A(h) of the Insolvency and Bankruptcy Code (IBC). MBL Infrastructures Limited (Respondent No. 1) obtained loans from a consortium of banks. Upon failure to repay, some banks invoked personal guarantees extended by Mr. Anjanee Kumar Lakhotiya (Respondent No. 3). RBL Bank filed an application under Section 7 of the IBC before the National Company Law Tribunal (NCLT), Kolkata, initiating the corporate insolvency resolution process (CIRP) against Respondent No. 1. The NCLT admitted the application and appointed an Interim Resolution Professional. Two resolution plans were received, one authored by Respondent No. 3. Section 29A was introduced, leading to
…MBL Infrastructures Limited (Respondent No. 1) was set up by Mr. Anjanee Kumar Lakhotiya (Respondent No. 3) in the early 1990s. Respondent No. 1 obtained loans from a consortium of banks, including State Bank of Mysore (now State Bank of India). Upon Respondent No. 1's failure to repay, some respondents invoked personal guarantees extended by Respondent No. 3. RBL Bank issued a notice under Section 13(2) of the SARFAESI Act after invoking Respondent No. 3's personal guarantee. Allahabad Bank and State Bank of Bikaner and Jaipur took similar action. RBL Bank filed an application under Section 7 of the IBC before the NCLT, Kolkata, initiating CIRP against Respondent No. 1. The NCLT admitted the application. Two resolution plans were received, one authored by Respondent
…MBL Infrastructures Limited (Respondent No. 1)…
RBL Bank issued a notice under Section…