In the matter of Central Bank of India v. Anil Kumar Kedia, Cp (IB)/398(KB)/2021
Case brief
What is this about?
The NCLT reserved the applicant’s application for IPR against a personal guarantor. Pending the outcome of a Supreme Court petition challenging the validity of IBC sections, the matter was adjourned, while a direction was issued to the respondent not to alienate assets.
What did the court decide?
The applicant's matter adjourned; respondent directed not to alienate assets pending Supreme Court verdict.
What the court decided
IN THE NATIONAL COMPANY LAW TRIBUNAL KOLKATA BENCH KOLKATA
C.P.(IB)/398(KB)2021
Under section 95(1) of the Insolvency and Bankruptcy Code, 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.
In the matter of:
Central Bank of India
...Applicant
-Versus-
Mr. Anil Kumar Kedia
...Respondent
Order Reserved on: 22/06/2022 Order Pronounced on: 15/07/2022 Coram: Shri Rohit Kapoor : Member (Judicial) Shri Harish Chander Suri : Member (Technical)
Appearances (through video conferencing)
Issues for consideration
1 issue framed by the court
Whether to decide the application regarding the initiation of Insolvency Resolution Process against a personal guarantor pending a challenge by the Supreme Court to specific sections of the Insolvency
Parties & counsel
- applicant
Central Bank of India
- respondent
Mr. Anil Kumar Kedia
Coram
Rohit Kapoor
Case details
As recorded by the court registry
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