NCLT Mumbai Declares DHFL Personal Guarantor Bankrupt

Union Bank of India Vs Kapil Wadhawan (NCLT Mumbai) NCLT Mumbai held that application u/s. 123 of the Insolvency and Bankruptcy Code for initiation of Bankruptcy Process against Personal Guarantor admitted as all the requirements of section 123 complied. Accordingly, Kapil Wadhawan [personal guarantor of DHFL] is declared Bankrupt. Facts- This Petition has been filed by Union Bank of India (‘Petitioner/ Financial Creditor’) under Section 123 of the Insolvency and Bankruptcy Code, 2016 read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Pr...