Permission under Section 141 of the Insolvency and Bankruptcy Code, 2016 to travel abroad by the Personal Guarantor during the pendency of the Bankruptcy Resolution Process – Mr. Vemuri Ramkoteshwar Vs. Mr. D. Surya Ramakrishna Saibaba – NCLT Hyderabad Bench

Hon’ble NCLT Hyderabad Bench observed that a Marketing Personnel has no role in dealing with the management of the company and is only designated to deal with the marketing strategies of a product and in this case particularly the focus of Applicant is to focus on HNIs/ Corporates and identification of Reinsurance needs of the customers. Therefore, the contention of the Respondent that a bar in terms of Section 141(1)(a) of IBC attracts the case of the Applicant is unsustainable.

Permission under Section 141 of the Insolvency and Bankruptcy Code, 2016 to travel abroad by the Personal Guarantor during the pendency of the Bankruptcy Resolution Process – Mr. Vemuri Ramkoteshwar Vs. Mr. D. Surya Ramakrishna Saibaba – NCLT Hyderabad Bench Read Post »