State Bank of India, the Financial Creditor, filed an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for IRP for Personal Guarantors to Corporate Debtor) Rules, 2019, to initiate the Insolvency Resolution Process against Mr. Sunil Sharma, the Personal Guarantor, who was the Ex-Managing Director of Benlon India Limited, the Corporate Debtor. The application pertains to the personal guarantee provided by Mr. Sharma for the credit facilities availed by Benlon India Limited.
State Bank of India (SBI), the Financial Creditor, filed an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Insolvency Resolution Process against Mr. Sunil Sharma, the Personal Guarantor, who was the Ex-Managing Director of Benlon India Limited, the Corporate Debtor. The application was filed due to the personal guarantee provided by Mr. Sharma for the credit facilities availed by Benlon India Limited. The Corporate Debtor had availed Term Loans and Working Capital Facilities (WCF) from the Applicant Bank. The WCF were secured by the equitable mortgage of the properties of the Corporate Debtor and of the personal guarantor Mr. Balbir Sharma. The Credit facilities were also secured by the personal guarantees of Mr.
…Sign in to view the parties.
Applicant Bank served the Statutory Demand…
Applicant Bank dispatched…
State Bank of India, the Financial Creditor, filed an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for IRP for Personal Guarantors to Corporate Debtor) Rules, 2019, to initiate the Insolvency Resolution Process against Mr. Sunil Sharma, the Personal Guarantor, who was the Ex-Managing Director of Benlon India Limited, the Corporate Debtor. The application pertains to the personal guarantee provided by Mr. Sharma for the credit facilities availed by Benlon India Limited.
State Bank of India (SBI), the Financial Creditor, filed an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate the Insolvency Resolution Process against Mr. Sunil Sharma, the Personal Guarantor, who was the Ex-Managing Director of Benlon India Limited, the Corporate Debtor. The application was filed due to the personal guarantee provided by Mr. Sharma for the credit facilities availed by Benlon India Limited. The Corporate Debtor had availed Term Loans and Working Capital Facilities (WCF) from the Applicant Bank. The WCF were secured by the equitable mortgage of the properties of the Corporate Debtor and of the personal guarantor Mr. Balbir Sharma. The Credit facilities were also secured by the personal guarantees of Mr.
…Applicant Bank served the Statutory Demand…
Applicant Bank dispatched…