Bank of Baroda (Respondent No.2) extended export-linked credit facilities to Theme Exports/Theme Exports Pvt. Ltd. (Corporate Debtor) from 2006, secured by an equitable mortgage and hypothecation. On 06.01.2017, the appellant, Nandani Singh, identified as a suspended director of the Corporate Debtor, executed a Deed of continuing Guarantee in favour of the Bank. The Corporate Debtor's loan account was classified as a Non-Performing Asset (NPA) on 07.01.2019, and subsequently, Bank of Baroda issued a notice under Sec.13(2) of the SARFAESI Act on 27.02.2019 to the principal borrower and guarantors. Following a petition by an operational creditor, the Corporate Debtor was admitted into CIRP on 29.08.2019, which led to a liquidation order on 29.07.2020. Bank of Baroda
…From 2006, Bank of Baroda (Respondent No.2) extended export-linked credit facilities to Theme Exports/Theme Exports Pvt. Ltd. (Corporate Debtor), secured by equitable mortgage and hypothecation of movables, with fresh DPNs/hypothecation agreements between 2009-2014.
On 06.01.2017, loan facilities were re-sanctioned to about ₹30.12 crore, and the company acknowledged dues of about ₹27.77 crores.
On 06.01.2017, Nandani Singh (appellant), a suspended director of the corporate debtor, and others executed a stamped Deed of continuing Guarantee and acknowledgment in favour of the Bank.
On 07.01.2019, the loan account of the corporate debtor was classified as Non-Performing Asset (NPA).
…Sign in to view the parties.
Bank of Baroda extended export-linked credit…
Fresh DPNs/hypothecation agreements were…
Sign in to view related legal provisions.
Bank of Baroda (Respondent No.2) extended export-linked credit facilities to Theme Exports/Theme Exports Pvt. Ltd. (Corporate Debtor) from 2006, secured by an equitable mortgage and hypothecation. On 06.01.2017, the appellant, Nandani Singh, identified as a suspended director of the Corporate Debtor, executed a Deed of continuing Guarantee in favour of the Bank. The Corporate Debtor's loan account was classified as a Non-Performing Asset (NPA) on 07.01.2019, and subsequently, Bank of Baroda issued a notice under Sec.13(2) of the SARFAESI Act on 27.02.2019 to the principal borrower and guarantors. Following a petition by an operational creditor, the Corporate Debtor was admitted into CIRP on 29.08.2019, which led to a liquidation order on 29.07.2020. Bank of Baroda
…From 2006, Bank of Baroda (Respondent No.2) extended export-linked credit facilities to Theme Exports/Theme Exports Pvt. Ltd. (Corporate Debtor), secured by equitable mortgage and hypothecation of movables, with fresh DPNs/hypothecation agreements between 2009-2014.
On 06.01.2017, loan facilities were re-sanctioned to about ₹30.12 crore, and the company acknowledged dues of about ₹27.77 crores.
On 06.01.2017, Nandani Singh (appellant), a suspended director of the corporate debtor, and others executed a stamped Deed of continuing Guarantee and acknowledgment in favour of the Bank.
On 07.01.2019, the loan account of the corporate debtor was classified as Non-Performing Asset (NPA).
…Bank of Baroda extended export-linked credit…
Fresh DPNs/hypothecation agreements were…
Sign in to view related legal provisions.