2022 (7) TMI 144

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....eration is an Application C.P.(IB)/92/KB/2022 filed by the Applicant under section 95(1) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as "IBC, 2016") read with rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019 (hereinafter referred to as "IB Rules, 2019") and regulation 4(2) of IBBI (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 (hereinafter referred to as "IB Regulations, 2019") for initiating the Insolvency Resolution Process (hereinafter referred to as "IR Process") against Mr. Shankar Lall Ajitsaria, Personal Guarantor for Prithvi Ferro Alloys P....

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....an accounts, the said loan accounts have been classified as NPA on 01/12/2016. 5. The applicant had filed an original application in the year 2018 being O.A. No. 381 of 2018 against the "PFAPL" (Corporate Debtor) and the guarantors before the Debts Recovery Tribunal, Kolkata after issuing notice u/s. 13(2) of the SARFAESI Act, 2002, which is pending before the DRT, Kolkata. Meanwhile, "PFAPL" (Corporate Debtor) was admitted under CIRP by the National Company Law Tribunal, Kolkata Bench vide order dated 08/08/2019 passed in CP(IB)/140(KB)2019 (Punjab National Bank -vs- Prithvi Ferro Alloys Private Limited) and finally vide order dated 03/05/2021 Resolution Plan was approved. The Order of Admission under CIRP dated 08/08/2019 and the Order of....

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....798044128 (Mobile) for appointment as Resolution Professional. Mr. Mahesh Chand Gupta has given his written consent At pages 36 to 42 of the petition in Form A along with Authorisation for Assignment valid till 30/11/2022 in Form B (Annexure "A"). Therefore, we are appointing Mr. Mahesh Chand Gupta as Resolution Professional in exercise of the power conferred under section 97 of the IBC, 2016 on this Authority. The Resolution Professional is directed to file declaration within seven days from the date of receiving this Order to the effect that he fulfils all the requirements for being appointed as Resolution Professional in the matter. 10. The Resolution Professional shall exercise all the powers as enumerated under section 99 of the IBC, ....