The appeal arises from an order by NCLT, Chandigarh, admitting an application under Section 95 of IBC, 2016 against the Appellant/Personal Guarantor, Sumeet Juneja, for M/s Krishan Engineering Works Ltd. The appellant claims he was unaware of the proceedings and that no demand notice was served.
The NCLT admitted an application under Section 95 of IBC against Sumeet Juneja, a personal guarantor for M/s Krishan Engineering Works Ltd.
Sumeet Juneja claimed he was unaware of the proceedings and no notice was served.
The creditor, Stressed Assets Stabilisation Fund (SASF), filed the application based on a guarantee agreement dated 28.10.1994.
The borrower company defaulted, and the account was declared NPA on 31.10.1998.
SASF filed OA No. 2777 of 2017 before DRT-I, Chandigarh, which was allowed, and a recovery certificate was issued on 23.01.2019.
The NCLT appointed a Resolution Professional (RP) who attempted to serve notices and seek information from the Appellant.
SASF assigned the debt to Omkara Asset Reconstruction Private Limited on 31.08.2024.
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NCLT admitted the…
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The appeal arises from an order by NCLT, Chandigarh, admitting an application under Section 95 of IBC, 2016 against the Appellant/Personal Guarantor, Sumeet Juneja, for M/s Krishan Engineering Works Ltd. The appellant claims he was unaware of the proceedings and that no demand notice was served.
The NCLT admitted an application under Section 95 of IBC against Sumeet Juneja, a personal guarantor for M/s Krishan Engineering Works Ltd.
Sumeet Juneja claimed he was unaware of the proceedings and no notice was served.
The creditor, Stressed Assets Stabilisation Fund (SASF), filed the application based on a guarantee agreement dated 28.10.1994.
The borrower company defaulted, and the account was declared NPA on 31.10.1998.
SASF filed OA No. 2777 of 2017 before DRT-I, Chandigarh, which was allowed, and a recovery certificate was issued on 23.01.2019.
The NCLT appointed a Resolution Professional (RP) who attempted to serve notices and seek information from the Appellant.
SASF assigned the debt to Omkara Asset Reconstruction Private Limited on 31.08.2024.
…NCLT admitted the…
Assignment of…