Back
NATIONAL COMPANY LAW TRIBUNAL
SANJIV JAIN, Judicial Member, VENKATARAMAN SUBRAMANIAM, Technical Member
Shoukath Sherif – Appellant
Versus
Jammu & Kashmir Bank Ltd. – Respondent
| Table of Content |
|---|
| 1. details of petitioner, debts, guarantees, and defaults established. (Para 1 , 2 , 3 , 4 , 6 , 13 , 14) |
| 2. petitioner's intent for ibc resolution and repayment plan. (Para 5) |
| 3. creditors' objections on limitation and misuse of ibc. (Para 7 , 8 , 9 , 10 , 11) |
| 4. petition time-barred; filed post-auction notice. (Para 12 , 15 , 16) |
| 5. petition filed to thwart advanced sarfaesi recovery. (Para 17 , 18 , 19 , 23) |
| 6. sanctity of auction protected; redemption rights extinguished. (Para 20 , 21 , 22) |
| 7. petition dismissed as time-barred and abusive. (Para 24 , 25) |
COMMON ORDER
(Heard through Video Conferencing)
This petition CP(IB)151(CHE)2025 under Section 94(1) of Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 has been filed by Shoukath Sheriff (Personal Guarantor) who stood guarantee for the loan facilities availed by the Corporate Debtor, A & Z Lifestyle Retail Private Limited from Jammu & Kashmir Bank Limited. The prayer made in the petition is to initiate Insolvency Resolution Process. An application IA(IB
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
