{"id":92156,"date":"2024-07-10T20:35:10","date_gmt":"2024-07-10T20:35:10","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/07\/10\/amtek-case-sc-junks-arvind-dhams-plea-against-personal-insolvency-proceedings\/"},"modified":"2024-07-10T20:35:10","modified_gmt":"2024-07-10T20:35:10","slug":"amtek-case-sc-junks-arvind-dhams-plea-against-personal-insolvency-proceedings","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/07\/10\/amtek-case-sc-junks-arvind-dhams-plea-against-personal-insolvency-proceedings\/","title":{"rendered":"Amtek Case: SC junks Arvind Dham’s plea against personal insolvency proceedings"},"content":{"rendered":"
\"Amtek<\/div>\n
The Supreme Court<\/a> on Wednesday rejected former Amtek group<\/a> chairman Arvind Dham<\/a>‘s appeal challenging initiation of personal insolvency proceedings<\/a> against him.<\/p>\n

A Bench led by Chief Justice DY Chandrachud declined to interfere with the National Company Law Tribunal<\/a>‘s (NCLT<\/a>) February order that initiated a personal insolvency resolution process against Dham under Section 100 of the Insolvency and Bankruptcy Code (IBC).<\/p>\n

In February, the Delhi bench of NCLT admitted a petition by State Bank of India<\/a> to start insolvency proceedings against Dham for defaulting on debt of Rs 177.89 crore. The order was upheld by the National Company Law Appellate Tribunal in April.<\/p>\n

Challenging the NCLAT’s April order, Dham said SBI was barred from moving such a plea in terms of the interim moratorium imposed under Section 96 of IBC. He submitted that the interim moratorium had kicked in when L&T Finance had filed an application in this regard thus no creditor including SBI had jurisdiction to file any proceeding against the personal guarantor.<\/p>\n

Dham had given personal guarantee to Castex Technologies<\/a> and Stride Auto Parts Ltd. In 2015, Dham had given a deed of guarantee in favour of L&T Finance to secure the debt of Castex Technologies. While in 2016, Dham executed a deed of guarantee in SBI’s favour to secure the debt of Stride Auto Parts.<\/p>\n

In 2020, L&T had filed a personal insolvency petition against Dham in which a notice was issued by the tribunal.
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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Supreme Court on Wednesday rejected former Amtek group chairman Arvind Dham‘s appeal challenging initiation of personal insolvency proceedings against him. A Bench led by Chief Justice DY Chandrachud declined to interfere with the National Company Law Tribunal‘s (NCLT) February order that initiated a personal insolvency resolution process against Dham under Section 100 of the […]<\/p>\n","protected":false},"author":2,"featured_media":92157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/msid-111642396,imgsize-16472.cms","fifu_image_alt":"","footnotes":""},"categories":[602],"tags":[69874,78873,69871,2896,78871,1287,78874,41692,23430,16729,6787,56170,17236,2635,78872,5851,10329,3557,1617],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/92156"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=92156"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/92156\/revisions"}],"predecessor-version":[{"id":92158,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/92156\/revisions\/92158"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/92157"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=92156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=92156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=92156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}