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IN THE NATIONAL COMPANY LAW TRIBUNAL,
JYOTI KUMAR TRIPATHI, J
Mrs. Vijayakumari Natarajan, Resolution Professional – Appellant
Versus
LIC HFL Trustee Company Private Limited & Another – Respondent
| Table of Content |
|---|
| 1. petition filed under ibc for insolvency resolution. (Para 1 , 2 , 3 , 4 , 5 , 6) |
| 2. arguments presented by financial creditor and respondent. (Para 7 , 8) |
| 3. court's conclusion and order for insolvency process initiation. (Para 9 , 13) |
| 4. court's observations and analysis on the case. (Para 10 , 11 , 12) |
ORDER
(Hearing through hybrid mode
1. The present Petition has been filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “Code/IBC, 2016") r/w Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 by LIC HFL Trustee Private Company Private Limited and Vistra ITCL (India) Limited (hereinafter referred to as “Financial Creditor(s)/FC”) for initiating insolvency resolution process against Mr.B.Kamlesh Kumar (hereinafter referred to as “Personal Guarantor /PG”) of JBM Homes Private Limited (hereinafter referred to as “Corporate Debtor/ CD”).
2. This Tribunal vide order dated 07.09.2020 in IA(IB) 812/2020 admitted the CD into CIRP and subsequently vide order dated 12.09.2023 in IA/IBC/919/(CHE)/2022 into Liquidat
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