The National Company Law Tribunal, Kochi Bench, Kerala, heard a batch of petitions (CP(IBC)/13/KOB/2021, CP(IBC)/14/KOB/2021, CP(IBC)/15/KOB/2021, CP(IBC)/16/KOB/2021, CP(IBC)/17/KOB/2021, CP(IBC)/18/KOB/2021, CP(IBC)/19/KOB/2021) filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. These petitions were filed by JM Financial Asset Reconstruction Company Limited against various personal guarantors of the corporate debtor, M/s. Unitek Power Solutions India Limited, seeking to initiate the Insolvency Resolution Process. The corporate debtor had availed credit facilities
…M/s. JM Financial Asset Reconstruction Company Limited filed petitions under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, against several personal guarantors (Mrs. Reena Paul, Mrs. Susan Zachariah, Mr. John Zachariah, Mrs. Annu Mathew, Mr. Mathew John, Mr. Korah John, and Mr. K.G. Paul) of the Corporate Debtor, M/s. Unitek Power Solutions India Limited. The Corporate Debtor availed credit facilities from the Federal Bank Limited, including Cash Credit, Bank Guarantee, and Term Loan (IPS). The amount of default was Rs. 38,56,65,007.80 as of 31.05.2021. The Corporate Debtor
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Financial assets of Corporate Debtor assigned…
Application under Section 7 of the Code was…
The National Company Law Tribunal, Kochi Bench, Kerala, heard a batch of petitions (CP(IBC)/13/KOB/2021, CP(IBC)/14/KOB/2021, CP(IBC)/15/KOB/2021, CP(IBC)/16/KOB/2021, CP(IBC)/17/KOB/2021, CP(IBC)/18/KOB/2021, CP(IBC)/19/KOB/2021) filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. These petitions were filed by JM Financial Asset Reconstruction Company Limited against various personal guarantors of the corporate debtor, M/s. Unitek Power Solutions India Limited, seeking to initiate the Insolvency Resolution Process. The corporate debtor had availed credit facilities
…M/s. JM Financial Asset Reconstruction Company Limited filed petitions under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, against several personal guarantors (Mrs. Reena Paul, Mrs. Susan Zachariah, Mr. John Zachariah, Mrs. Annu Mathew, Mr. Mathew John, Mr. Korah John, and Mr. K.G. Paul) of the Corporate Debtor, M/s. Unitek Power Solutions India Limited. The Corporate Debtor availed credit facilities from the Federal Bank Limited, including Cash Credit, Bank Guarantee, and Term Loan (IPS). The amount of default was Rs. 38,56,65,007.80 as of 31.05.2021. The Corporate Debtor
…Financial assets of Corporate Debtor assigned…
Application under Section 7 of the Code was…