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Tribunals and CommissionsDivision Bench(2022) 05 NCLT CK 0679

Punjab National Bank vs M/s Bansal Diamonds Private Limited

National Company Law Tribunal · Decided on 10 May 2022

HON’BLE JUDGES
Ramalingam Sudhakar, President · Avinash Kumar Srivastava, Member (Technical)
RESULT
Disposed of
CASE NUMBER
C.P. No. IB-987(PB)/2020

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Judgment

4 paragraphs · 132 words

PER- SH. AVINASH KUMAR SRIVASTAVA HON’BLE MEMBER (T)

The present application, which has been filed by Punjab National Bank as Petitioner/ Financial Creditor on 22.09.2020 (as per NCLT Portal) against M/s Bansal Diamonds Private Limited, ‘Corporate Debtor’ (CD), seeking initiation of CIRP of the CD, in relation to a deed of Corporate Guarantee executed by the Respondent / CD for providing Corporate Guarantee of loan sanctioned to the borrower M/s SSK Trading Private Limited.

As the CIRP against the same CD under Section 7 of IBC, 2016 has already been initiated in CP (IB)-945(PB)/2020 vide order dated 10.05.2022, therefore, the present CP (IB)-987(PB)/2020 stands disposed of with liberty to the applicant to submit their claim before the Insolvency Resolution Professional appointed therein.

CP (IB)-987(PB)/2020 stands disposed of in terms of aforesaid directions.