In the matter of Intec Capital Ltd. v. Rajat Saini, Cp (Ib) No. 98-Chd-Hry-2021
Case brief
What is this about?
The National Company Law Tribunal, Chandigarh Bench, admitted an application filed by Intec Capital Limited under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Insolvency Resolution Process against a personal guarantor, Rajat Saini, of its corporate debtor.
What did the court decide?
Admission of the application under Section 95 of the Code; confirmation of the Resolution Professional's appointment; listing for further proceedings.
1
THE NATIONAL COMPANY LAW TRIBUNAL “CHANDIGARH BENCH, CHANDIGARH” (Exercising powers of Adjudicating Authority under the Insolvency and Bankruptcy Code, 2016) (through web-based video conferencing platform)
CP (IB) No. 98/Chd/Hry/2021
Under Section 95 of Insolvency and Bankruptcy Code, 2016.
In the matter of:
Intec Capital Limited with its registered office at 708, Manjusha Building, 57, Nehru Place, New Delhi-110019 through Mr. Piyush Moona, Resolution Professional (IBBI/IPA-001/IP-P00990/2017-2018/11630) Vs.
…Applicant-Creditor
Rajat Saini H. No. 61, Near Public Ground, Sector 12, Panchkula, Haryana-134109
…Respondent-Personal Guarantor
Order delivered on: 20.09.2021
Coram: Hon’ble Mr. Ajay Kumar Vatsavayi, Member (Judicial) Hon’ble Mr. K.K. Vohra, Member (Technical)
Issues for consideration
2 issues framed by the court
Whether the application under Section 95 of the Insolvency and Bankruptcy Code, 2016 to initiate the Insolvency Resolution Process against a personal guarantor ought to be admitted.
Whether the appointment of the Resolution Professional in the matter requires confirmation.
Parties & counsel
- applicant
Intec Capital Limited
- respondent
Rajat Saini
Coram
Ajay Kumar Vatsavayi
Case details
As recorded by the court registry
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