https://www.taxtmi.com/caselaws?id=429368 The Tribunal allowed the Central Bank of India's application to initiate Corporate Insolvency Resolution Process (CIRP) against the Personal Guarantor and Corporate Debtor under Section 95 of the Insolvency and Bankruptcy Code. It clarified that the application effectively targeted the Personal Guarantor, with the Corporate Debtor included based on presented facts. The judgment emphasized procedural requirements, stating that the Respondents had no right of audience before the appointment of the Interim Resolution Professional. The decision highlighted compliance with natural justice principles and cited legal precedents to support the conclusion that no notice was necessary for the Respondent at the IRP appointment stage. en-us Mon, 10 Oct 2022 00:00:00 +0530 Thu, 27 Oct 2022 07:48:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429368 The Tribunal allowed the Central Bank of India's application to initiate Corporate Insolvency Resolution Process (CIRP) against the Personal Guarantor and Corporate Debtor under Section 95 of the Insolvency and Bankruptcy Code. It clarified that the application effectively targeted the Personal Guarantor, with the Corporate Debtor included based on presented facts. The judgment emphasized procedural requirements, stating that the Respondents had no right of audience before the appointment of the Interim Resolution Professional. The decision highlighted compliance with natural justice principles and cited legal precedents to support the conclusion that no notice was necessary for the Respondent at the IRP appointment stage. Case-Laws Insolvency and Bankruptcy Mon, 10 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429368