The case involves a Company Petition filed by M/s. Stanbic Bank Ghana Limited (Financial Creditor) against M/s. Rajkumar Impex Private Limited (Respondent/Guarantor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The dispute arises from loan agreements between the Financial Creditor and M/s. Rajkumar Impex Ghana Limited (Principal Borrower), a wholly-owned subsidiary of the Respondent Company. The loan agreements contain an exclusive jurisdiction clause conferring jurisdiction to the courts of England and Wales. The Respondent is a guarantor to the loan amount by way of a deed of indemnity and guarantee dated 12.04.2012. When the Principal Borrower defaulted, proceedings were initiated in Ghana and before the English Courts. The Financial Creditor
…M/s. Stanbic Bank Ghana Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 against M/s. Rajkumar Impex Private Limited (Respondent/Guarantor). The Financial Creditor is a bank incorporated in Ghana. The Respondent is a guarantor for a loan taken by M/s. Rajkumar Impex Ghana Limited (Principal Borrower), a wholly-owned subsidiary of the Respondent. The loan agreements, dated 24.02.2012 and 15.04.2014, contain an exclusive jurisdiction clause conferring jurisdiction to the courts of England and Wales. The Respondent entered into a deed of guarantee dated 12.04.2012, making the guarantee an "on demand guarantee." When the Principal Borrower defaulted, proceedings were initiated in Ghana (Suit No. BFS 13/2016
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The case involves a Company Petition filed by M/s. Stanbic Bank Ghana Limited (Financial Creditor) against M/s. Rajkumar Impex Private Limited (Respondent/Guarantor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The dispute arises from loan agreements between the Financial Creditor and M/s. Rajkumar Impex Ghana Limited (Principal Borrower), a wholly-owned subsidiary of the Respondent Company. The loan agreements contain an exclusive jurisdiction clause conferring jurisdiction to the courts of England and Wales. The Respondent is a guarantor to the loan amount by way of a deed of indemnity and guarantee dated 12.04.2012. When the Principal Borrower defaulted, proceedings were initiated in Ghana and before the English Courts. The Financial Creditor
…M/s. Stanbic Bank Ghana Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 against M/s. Rajkumar Impex Private Limited (Respondent/Guarantor). The Financial Creditor is a bank incorporated in Ghana. The Respondent is a guarantor for a loan taken by M/s. Rajkumar Impex Ghana Limited (Principal Borrower), a wholly-owned subsidiary of the Respondent. The loan agreements, dated 24.02.2012 and 15.04.2014, contain an exclusive jurisdiction clause conferring jurisdiction to the courts of England and Wales. The Respondent entered into a deed of guarantee dated 12.04.2012, making the guarantee an "on demand guarantee." When the Principal Borrower defaulted, proceedings were initiated in Ghana (Suit No. BFS 13/2016
…The petitioner/financial creditor and the…
Proceedings were…