Form No. Form D - APPLICATION FOR WITHDRAWAL OF INSOLVENCY RESOLUTION PROCESS - Application to Adjudicating Authority for Insolvency Resolution Process
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Withdrawal of insolvency resolution for a personal guarantor permitted when creditors approve and costs are secured by guarantee. Application to discontinue an insolvency resolution process for a personal guarantor requires identification of the admitted petition, specification of ... Summary
Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019
Withdrawal of insolvency resolution for a personal guarantor permitted when creditors approve and costs are secured by guarantee.
Application to discontinue an insolvency resolution process for a personal guarantor requires identification of the admitted petition, specification of the statutory basis of the original filing, confirmation that the creditor body has approved the withdrawal, an affirmative statement that the applicant or authorised representative submits the request, and attachment of a bank guarantee to secure estimated costs incurred by the resolution professional.
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