In the matter of Uco Bank v. Swaran Kumar Kejriwal, Cp (IB)/33 (KB)/2021
Case brief
What is this about?
The NCLT Kolkata Bench, in an ex-parte order, admitted an application by UCO Bank to initiate the Insolvency Resolution Process against Swaran Kumar Kejriwal, a personal guarantor, due to the default of the corporate debtor.
What did the court decide?
Admission of the application for initiating the Insolvency Resolution Process against the personal guarantor; Appointment of the Resolution Professional.
What the court decided
A compact analysis
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE NATIONAL COMPANY LAW TRIBUNAL KOLKATA BENCH KOLKATA
c.P.(rBy33(KB)2021
Under section 95(l) of the Insolvency and Bankruptcy Code, 2016 read with rule 7(2) ofthe lnsolvency and Bankntptcy (Application to Adjudicating Authorit.y.for Inso lvency Resolution process for Personal Guarantors to Corporate Debtor) Rules,20l9.
In the mauer of: UCO Bank
Applicant
-Versus-
Swaran Kumar Kejriwal
...Respondent
Order Reserved on: 30/08/2021 Order Pronounced on: 03/11/2021
Corau:
Shri Rajasekhar V.K, : Member (Judicial) Shri Harish Chander Suri : Member (Technical)Member (Technical)
: Member (Technical)Member (Technical)
Issues for consideration
1 issue framed by the court
Whether the conditions under Section 95(1) of the IBC, 2016 and relevant Rules are satisfied to admit the application for initiating the Insolvency Resolution Process against a personal guarantor.
Parties & counsel
- applicant
UCO Bank
- respondent
Swaran Kumar Kejriwal
Coram
Rajasekhar V.K.
Case details
As recorded by the court registry
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