The Bank of India, as a financial creditor, filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Insolvency Resolution Process against Mr. Ashok Goel, the personal guarantor to the corporate debtor, M/s. Shree Raj Mahal Jewellers Private Limited. The corporate debtor had availed loan from a consortium of lenders, including Bank of India, but failed to maintain financial discipline, leading to its account being declared NPA. A Section 7 application was filed against the corporate debtor, and CIRP proceedings were initiated, leading to the liquidation of the corporate debtor.
M/s. Bank of India, the financial creditor, filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, against Mr. Ashok Goel, the personal guarantor to the corporate debtor, M/s. Shree Raj Mahal Jewellers Private Limited. The corporate debtor had availed loan from a consortium of lenders, including Bank of India. The corporate debtor failed to maintain financial discipline, leading to its account being declared NPA on 30.06.2015. A Section 7 application was filed against the corporate debtor, and CIRP proceedings were initiated. Since no resolution plan was approved, the RP filed an application for liquidation of the CD, which was allowed on 08.09.2020. A demand notice in Form B was issued by Bank of India to Mr. Ashok Goel on 17.02.2021, for
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The account of the…
A Section 7 application under the I&B Code,…
The Bank of India, as a financial creditor, filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Insolvency Resolution Process against Mr. Ashok Goel, the personal guarantor to the corporate debtor, M/s. Shree Raj Mahal Jewellers Private Limited. The corporate debtor had availed loan from a consortium of lenders, including Bank of India, but failed to maintain financial discipline, leading to its account being declared NPA. A Section 7 application was filed against the corporate debtor, and CIRP proceedings were initiated, leading to the liquidation of the corporate debtor.
M/s. Bank of India, the financial creditor, filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, against Mr. Ashok Goel, the personal guarantor to the corporate debtor, M/s. Shree Raj Mahal Jewellers Private Limited. The corporate debtor had availed loan from a consortium of lenders, including Bank of India. The corporate debtor failed to maintain financial discipline, leading to its account being declared NPA on 30.06.2015. A Section 7 application was filed against the corporate debtor, and CIRP proceedings were initiated. Since no resolution plan was approved, the RP filed an application for liquidation of the CD, which was allowed on 08.09.2020. A demand notice in Form B was issued by Bank of India to Mr. Ashok Goel on 17.02.2021, for
…The account of the…
A Section 7 application under the I&B Code,…