This appeal challenges the order dated 01.07.2025 passed by the adjudicating authority (National Company Law Tribunal, Mumbai Bench – I) admitting Section 95 application filed by the financial creditor, Cosmos Cooperative Bank Limited & Anr.
Cosmos Cooperative Bank Limited granted credit facilities to Dilip Chabria Design Private Ltd.
A cash credit limit of ₹16 crore and term loan facilities of ₹22 crore were sanctioned on 25.06.2014, secured by personal guarantee dated 28.07.2014.
Existing facilities were renewed, and guarantee deeds were issued on 29.09.2015 and 26.11.2015.
A fresh loan agreement was executed on 02.03.2016, and a deed of guarantee was executed on the same date by personal guarantors, including the appellant.
A promissory note for ₹44 crore was issued on 02.03.2016 by personal guarantors, including the appellant.
The corporate debtor failed to honour repayment obligations, leading to a call back notice by the financial creditor on 31.08.2018.
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Cash credit limit of…
Repayment of fa…
This appeal challenges the order dated 01.07.2025 passed by the adjudicating authority (National Company Law Tribunal, Mumbai Bench – I) admitting Section 95 application filed by the financial creditor, Cosmos Cooperative Bank Limited & Anr.
Cosmos Cooperative Bank Limited granted credit facilities to Dilip Chabria Design Private Ltd.
A cash credit limit of ₹16 crore and term loan facilities of ₹22 crore were sanctioned on 25.06.2014, secured by personal guarantee dated 28.07.2014.
Existing facilities were renewed, and guarantee deeds were issued on 29.09.2015 and 26.11.2015.
A fresh loan agreement was executed on 02.03.2016, and a deed of guarantee was executed on the same date by personal guarantors, including the appellant.
A promissory note for ₹44 crore was issued on 02.03.2016 by personal guarantors, including the appellant.
The corporate debtor failed to honour repayment obligations, leading to a call back notice by the financial creditor on 31.08.2018.
…Cash credit limit of…
Repayment of fa…