The State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Insolvency Resolution Process against Mr. Sanjay Maheshwari, the Personal Guarantor, for the debts of Saga Automotive (I) Pvt Ltd. The Corporate Debtor had obtained credit facilities from the State Bank of India but failed to maintain financial discipline, leading to outstanding amounts. The Corporate Debtor is undergoing Liquidation Process vide order dated 16.03.2021.
State Bank of India (SBI) filed an application to initiate Insolvency Resolution Process against Sanjay Maheshwari, who is the personal guarantor for the debts of Saga Automotive (I) Pvt Ltd. Saga Automotive (I) Pvt Ltd, the Corporate Debtor, availed credit facilities from SBI but defaulted on payments. A demand notice dated 29.06.2021 was issued to Sanjay Maheshwari regarding the unpaid debt. The demand notice was sent via speed post but was returned, after which it was affixed to the premises of the respondent on 15.07.2021. The total debt from the Personal Guarantor is Rs. 28,36,04,727.55. The Corporate Debtor is undergoing Liquidation Process vide order dated 16.03.2021. The application was filed on 02.08.2021.
Sign in to view the parties.
Order passed by the…
Demand Notice issued by the Creditor to the…
The State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Insolvency Resolution Process against Mr. Sanjay Maheshwari, the Personal Guarantor, for the debts of Saga Automotive (I) Pvt Ltd. The Corporate Debtor had obtained credit facilities from the State Bank of India but failed to maintain financial discipline, leading to outstanding amounts. The Corporate Debtor is undergoing Liquidation Process vide order dated 16.03.2021.
State Bank of India (SBI) filed an application to initiate Insolvency Resolution Process against Sanjay Maheshwari, who is the personal guarantor for the debts of Saga Automotive (I) Pvt Ltd. Saga Automotive (I) Pvt Ltd, the Corporate Debtor, availed credit facilities from SBI but defaulted on payments. A demand notice dated 29.06.2021 was issued to Sanjay Maheshwari regarding the unpaid debt. The demand notice was sent via speed post but was returned, after which it was affixed to the premises of the respondent on 15.07.2021. The total debt from the Personal Guarantor is Rs. 28,36,04,727.55. The Corporate Debtor is undergoing Liquidation Process vide order dated 16.03.2021. The application was filed on 02.08.2021.
Order passed by the…
Demand Notice issued by the Creditor to the…