Billionloans Financial Services Pvt. Ltd., a financial creditor, filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, against Mr. Khurshid Alam, the personal guarantor to a corporate debtor, Big Truck Technologies Private Limited. The Resolution Professional recommended the admission of the application.
Billionloans Financial Services Pvt. Ltd. is a Non-Banking Financial Institution (NBFC).
Mr. Khurshid Alam is the Personal Guarantor and a Director of M/s Big Truck Technologies Pvt. Ltd., the Corporate Debtor.
A credit facility of Rs.50 lakhs was granted to Corporate Debtor on 26.09.2022, followed by an additional Rs. 50 lakhs on 10.11.2022, totaling Rs. 1 crore.
The facility was restructured multiple times, and the Corporate Debtor was declared NPA since September 2023.
The Financial Creditor issued a demand notice in Form B on 20.01.2025 to the Personal Guarantor.
The Financial Creditor filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, on 27.05.2025.
Mr. S. Kasi Viswanathan was appointed as the Resolution Professional.
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A credit facility of…
Personal guarantee…
Billionloans Financial Services Pvt. Ltd., a financial creditor, filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, against Mr. Khurshid Alam, the personal guarantor to a corporate debtor, Big Truck Technologies Private Limited. The Resolution Professional recommended the admission of the application.
Billionloans Financial Services Pvt. Ltd. is a Non-Banking Financial Institution (NBFC).
Mr. Khurshid Alam is the Personal Guarantor and a Director of M/s Big Truck Technologies Pvt. Ltd., the Corporate Debtor.
A credit facility of Rs.50 lakhs was granted to Corporate Debtor on 26.09.2022, followed by an additional Rs. 50 lakhs on 10.11.2022, totaling Rs. 1 crore.
The facility was restructured multiple times, and the Corporate Debtor was declared NPA since September 2023.
The Financial Creditor issued a demand notice in Form B on 20.01.2025 to the Personal Guarantor.
The Financial Creditor filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, on 27.05.2025.
Mr. S. Kasi Viswanathan was appointed as the Resolution Professional.
…A credit facility of…
Personal guarantee…