Equentia Financial Service Private Limited (Financial Creditor) filed a Company Petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, against Mr. Puneet Singh Jaggi, a personal guarantor to Gensol Engineering Limited (Corporate Debtor). The petition sought to initiate an Insolvency Resolution Process for a default amount of Rs. 9,91,39,155, based on a Deed of Guarantee dated August 22, 2023. The Financial Creditor had granted a purchase invoice discounting facility of Rs. 15,00,00,000 to Gensol Engineering Limited on August 22, 2023, which was secured by personal guarantees from Mr. Puneet Singh Jaggi and Mr. Anmol Singh Jaggi.

Equentia Financial Service Private Limited (Financial Creditor) filed a Company Petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, against Mr. Puneet Singh Jaggi, a personal guarantor to Gensol Engineering Limited (Corporate Debtor). The petition sought to initiate an Insolvency Resolution Process for a default amount of Rs. 9,91,39,155, based on a Deed of Guarantee dated August 22, 2023. The Financial Creditor had granted a purchase invoice discounting facility of Rs. 15,00,00,000 to Gensol Engineering Limited on August 22, 2023, which was secured by personal guarantees from Mr. Puneet Singh Jaggi and Mr. Anmol Singh Jaggi.