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TMI Blog2022 (7) TMI 358X X X X Extracts X X X X X X X X Extracts X X X X ..... ar, Member (T) 1. This application has been filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 against the Personal Guarantors of Gold King Tex India Private Limited & G B Raja Top Weaving (P) Limited, the Corporate Debtor which is under Liquidation. 2. In so far as Gold King Tex India Private Limited is concerned an order was passed for Commencement of CIRP of the Corporate D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Application that the Personal Guarantor has executed the Deed of Guarantee on 19.12.2013 & 25.03.2015. All these Deed of guarantees are enclosed along with the typed set filed along with the Application. 5. The Demand Notice issued under Rule 7(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 02.05.2022 and no application was filed for setting aside the said order. 8. The Hon'ble NCLAT, Principal Bench, in the matter of Mr. Ravi Ajit Kulkarni Vs. State Bank of India in Company Appeal (AT) (Insolvency) No. 316 of 2021 has held in para 42 that once an Application under Section 95 of IBC, 2016 is filed, the Adjudicating Authority has to act on it, and following principles of nat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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