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2020 (11) TMI 988 - Tri - Insolvency and BankruptcyInitiation of Moratorium against Personal Guarantor - Section 97 (1) of IB Code - HELD THAT:- Upon verification of the record, that there is material reflecting admission of company petition against the principal debtor (M/S Multiwal Pulp and Board Mills Pvt Ltd.) and this personal guarantor standing as guarantor to the loan availed by the said corporate debtor, the interim moratorium is deemed to have commenced from the date of filing of this application in relation to all the debts and any legal action or proceeding pending in respect of any debt shall be deemed to have been stayed and the creditors of the debtor shall not initiate any legal action or proceedings in respect of any debt and further directs IBBI to provide information as to any disciplinary proceedings pending against the Resolution Professional sought to be appointed in this case so as to appoint him as RP u/ s 97 (5) of the Code. List this application on 25.11.2020 for the recommendation of IBBI as stated u/ s 97 (2) of the Code.
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