https://www.taxtmi.com/caselaws?id=428691 The court allowed and admitted the application under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, initiating the Insolvency Resolution Process against the Personal Guarantor. This decision was based on defaults in loan repayment by both the Corporate Debtor and the Guarantor, leading to the commencement of the moratorium period. The Resolution Professional was directed to undertake various tasks, including inviting claims from creditors, preparing a repayment plan, and potentially convening a meeting of creditors if necessary. The Resolution Professional's functions were to be carried out in accordance with the code of conduct outlined in Section 208 of the IBC, 2016. en-us Tue, 20 Sep 2022 00:00:00 +0530 Thu, 06 Oct 2022 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428691 The court allowed and admitted the application under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, initiating the Insolvency Resolution Process against the Personal Guarantor. This decision was based on defaults in loan repayment by both the Corporate Debtor and the Guarantor, leading to the commencement of the moratorium period. The Resolution Professional was directed to undertake various tasks, including inviting claims from creditors, preparing a repayment plan, and potentially convening a meeting of creditors if necessary. The Resolution Professional's functions were to be carried out in accordance with the code of conduct outlined in Section 208 of the IBC, 2016. Case-Laws Insolvency and Bankruptcy Tue, 20 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428691