Intec Capital Limited filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy Rules, 2019, to initiate the Insolvency Resolution Process against Ms. Swati Saini, the personal guarantor of the corporate debtor, M/s Sarthak Logistics Private Limited. The application was based on a loan agreement executed by the Corporate Debtor, where Ms. Saini acted as a guarantor. The Corporate Debtor defaulted on the loan, leading to dishonored cheques and non-payment. A demand notice was issued to the Personal Guarantor, but no response was received.
Intec Capital Limited (the Creditor) filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Ms. Swati Saini (the Personal Guarantor/Respondent). Ms. Saini acted as a guarantor for a loan availed by M/s Sarthak Logistics Private Limited (the Corporate Debtor). A loan agreement was executed for Rs. 56,00,000/-. The Corporate Debtor defaulted on the loan, leading to dishonored cheques. A demand notice dated 2020-06-01 was issued to Ms. Saini, which was served via email on 2020-06-08, but no response was received. The total debt from the Personal Guarantor is Rs. 1,34,54,968. The guarantee agreement was dated 2015-05-30. The application was filed on 2021-03-09. Proceedings against the
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Guarantee Agree…
Demand Notice (Form B)…
Intec Capital Limited filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy Rules, 2019, to initiate the Insolvency Resolution Process against Ms. Swati Saini, the personal guarantor of the corporate debtor, M/s Sarthak Logistics Private Limited. The application was based on a loan agreement executed by the Corporate Debtor, where Ms. Saini acted as a guarantor. The Corporate Debtor defaulted on the loan, leading to dishonored cheques and non-payment. A demand notice was issued to the Personal Guarantor, but no response was received.
Intec Capital Limited (the Creditor) filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Ms. Swati Saini (the Personal Guarantor/Respondent). Ms. Saini acted as a guarantor for a loan availed by M/s Sarthak Logistics Private Limited (the Corporate Debtor). A loan agreement was executed for Rs. 56,00,000/-. The Corporate Debtor defaulted on the loan, leading to dishonored cheques. A demand notice dated 2020-06-01 was issued to Ms. Saini, which was served via email on 2020-06-08, but no response was received. The total debt from the Personal Guarantor is Rs. 1,34,54,968. The guarantee agreement was dated 2015-05-30. The application was filed on 2021-03-09. Proceedings against the
…Guarantee Agree…
Demand Notice (Form B)…