https://www.taxtmi.com/caselaws?id=420705 The Tribunal found the Personal Guarantors in default for failing to repay debts to the Creditor Bank. Consequently, the petitions filed by State Bank of India under Section 95(1) of the Insolvency and Bankruptcy Code were allowed. The Tribunal initiated interim-moratorium under Section 96(1)(a) of the IBC, appointed an Insolvency Resolution Professional, and directed specific actions to be taken. Compliance reports were mandated, and the Resolution Professional was given responsibilities and timelines to follow as per the I & B Code, 2016. en-us Thu, 17 Mar 2022 00:00:00 +0530 Thu, 07 Apr 2022 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420705 The Tribunal found the Personal Guarantors in default for failing to repay debts to the Creditor Bank. Consequently, the petitions filed by State Bank of India under Section 95(1) of the Insolvency and Bankruptcy Code were allowed. The Tribunal initiated interim-moratorium under Section 96(1)(a) of the IBC, appointed an Insolvency Resolution Professional, and directed specific actions to be taken. Compliance reports were mandated, and the Resolution Professional was given responsibilities and timelines to follow as per the I & B Code, 2016. Case-Laws Insolvency and Bankruptcy Thu, 17 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420705