The case involves two petitions filed by State Bank of India under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Insolvency Resolution Process against Mr. Jitendra Singh and Mrs. Gurmeet Sodhi, who are personal guarantors to the Corporate Debtor, M/s Kudos Chemie Ltd.
State Bank of India filed petitions under Section 95 of the Insolvency and Bankruptcy Code, 2016 against Jitendra Singh and Gurmeet Sodhi, personal guarantors to M/s Kudos Chemie Ltd.
The petitions were filed on 10.08.2021.
The amount claimed to be in default is Rs. 348,38,57,247.54/- as on 29.05.2021.
The Corporate Debtor's account was classified as NPA on 31.05.2015.
A demand notice was issued on 05.11.2016 under Section 13(2) of the SARFAESI Act.
A Recovery Certificate was issued on 06.01.2020.
CIRP against the Corporate Debtor was admitted on 05.07.2019.
The Resolution Professional submitted a report on 06.01.2024 recommending admission of the petitions.
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Respondents executed a…
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The case involves two petitions filed by State Bank of India under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Insolvency Resolution Process against Mr. Jitendra Singh and Mrs. Gurmeet Sodhi, who are personal guarantors to the Corporate Debtor, M/s Kudos Chemie Ltd.
State Bank of India filed petitions under Section 95 of the Insolvency and Bankruptcy Code, 2016 against Jitendra Singh and Gurmeet Sodhi, personal guarantors to M/s Kudos Chemie Ltd.
The petitions were filed on 10.08.2021.
The amount claimed to be in default is Rs. 348,38,57,247.54/- as on 29.05.2021.
The Corporate Debtor's account was classified as NPA on 31.05.2015.
A demand notice was issued on 05.11.2016 under Section 13(2) of the SARFAESI Act.
A Recovery Certificate was issued on 06.01.2020.
CIRP against the Corporate Debtor was admitted on 05.07.2019.
The Resolution Professional submitted a report on 06.01.2024 recommending admission of the petitions.
…Respondents executed a…
Respondents executed a…