The case pertains to an application filed by Saurabh Bharatbhushan Jain, a personal guarantor, under Section 94 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Insolvency Resolution Process. The application relates to a credit facility extended by the State Bank of India to Sysco Industries Ltd, for which Mr. Jain is the personal guarantor.
Saurabh Bharatbhushan Jain filed an application under Section 94 of the IBC, 2016 as a personal guarantor to Sysco Industries Ltd.
The application was filed in relation to a credit facility extended by the State Bank of India to Sysco Industries Ltd.
The tribunal appointed Mr. Sunil Kumar Agarwal as the Interim Resolution Professional (IRP) on 10.05.2024.
The IRP filed a report recommending the admission of the application.
Nutan Nagrik Sahakari Bank and State Bank of India, financial creditors, filed replies objecting to and supporting the admission of the application, respectively.
The Personal Guarantor provided a wrong address in the application.
The Personal Guarantor did not cooperate with the IRP initially.
…Sign in to view the parties.
The Present Application was filed on 24.04.2024…
Authority vide order dated 10.05.2024 appointed…
The case pertains to an application filed by Saurabh Bharatbhushan Jain, a personal guarantor, under Section 94 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Insolvency Resolution Process. The application relates to a credit facility extended by the State Bank of India to Sysco Industries Ltd, for which Mr. Jain is the personal guarantor.
Saurabh Bharatbhushan Jain filed an application under Section 94 of the IBC, 2016 as a personal guarantor to Sysco Industries Ltd.
The application was filed in relation to a credit facility extended by the State Bank of India to Sysco Industries Ltd.
The tribunal appointed Mr. Sunil Kumar Agarwal as the Interim Resolution Professional (IRP) on 10.05.2024.
The IRP filed a report recommending the admission of the application.
Nutan Nagrik Sahakari Bank and State Bank of India, financial creditors, filed replies objecting to and supporting the admission of the application, respectively.
The Personal Guarantor provided a wrong address in the application.
The Personal Guarantor did not cooperate with the IRP initially.
…The Present Application was filed on 24.04.2024…
Authority vide order dated 10.05.2024 appointed…