Dhir & Dhir Associates was recently successful in getting insolvency proceedings against the Corporate Guarantor of Aditya Vidyut Appliances Ltd. admitted before the NCLT, Mumbai. SBI had filed Applications u/s 7 of IBC against Aditya Vidyut Appliances Ltd. (AVA), the Borrower, and Aditya Fabrication Pvt. Ltd. (AFP), the Guarantor. The petition filed against AVA was admitted on 11.09.2019, wherein in the resolution process of AVA, Resolution Plans were invited, and two plans were received. As the land on which the factory of AVA existed belonged to AFP, the Resolution Applicants proposal was premised on transferring the entire land of the factory. The Bench took up the matter through videoconferencing on 08.05.2020 wherein Ashish Pyasi, Associate Partner appeared on behalf of SBI and was able to convince the Bench that to have a proper resolution in which maximization of value for all stakeholders happens, the Section 7 Petition against AFP is required to be admitted.