Back
NATIONAL COMPANY LAW TRIBUNAL
Shri. Vinay Goel, Smt. Madhu Sinha, JJ
M/s. Kerala Financial Corporation – Appellant
Versus
Dr. Bharath Chandran – Respondent
| Table of Content |
|---|
| 1. introduction of bankruptcy applications against personal guarantors. (Para 1 , 2 , 3) |
| 2. delay due to previous moratorium on corporate debtor. (Para 4 , 5) |
| 3. discussion on condonation of delay under the statute. (Para 8 , 18) |
| 4. responses regarding prior applications and their impact. (Para 11 , 12) |
| 5. court's interpretation of mandatory timelines in statutory context. (Para 20 , 23) |
| 6. court's final ruling on condonation with conditions. (Para 24 , 25) |
ORDER
Per: Coram
1. These two applications have been filed by the Kerala Financial Corporation, Applicant/Creditor, seeking condonation of delay in filing applications under Section 123 (1) of the Insolvency and Bankruptcy Code, 2016 , for initiating bankruptcy proceedings against Dr. Bharath Chandran and Dr. Ashalatha Nair, who had extended personal guarantees for the debt of the same Corporate Debtor, namely Trivandrum International Health Services Limited. As the legal and factual issues in both matters are identical, they have been heard together, and a common order is being passed.
2. The Applicant submits that Dhanlaxmi Bank Ltd. initiated the resolution process against the Respondents, who are the personal guarant
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
