S. Sephulohniam (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Hotel Radhaprasad Pvt. Ltd. (Corporate Guarantor) to initiate Corporate Insolvency Resolution Process (CIRP). The petition was based on a Guarantee Agreement dated 16.07.2018 for a loan of Rs. 12 crores extended to Hotel Radha Prasad, a partnership firm (Principal Borrower). The total outstanding debt was later amended to Rs. 15,30,00,000/-, with the date of default stated as 06.08.2024. The Corporate Guarantor raised several objections, including that the petition was not maintainable against a partnership firm, the Guarantee Deed was defective due to uncertainty and lack of proper corporate authorization, payments were made from personal
…S. Sephulohniam (Financial Creditor) filed a petition under Section 7 of IBC, 2016, against Hotel Radhaprasad Private Limited (Corporate Debtor/Guarantor).
The petition seeks to initiate Corporate Insolvency Resolution Process (CIRP).
A loan of Rs. 12,00,00,000/- (Rupees Twelve Crores Only) was extended to Hotel Radha Prasad, a partnership firm (Principal Borrower).
A Guarantee Agreement dated 16.07.2018 was executed between S. Sephulohniam, Kumaravel Sepulohniam (Lenders) and M/s. Hotel Radhaprasad (Principal Borrower), R. Radha, R.R. Prasad, and Hotel Radhaprasad Private Limited (Guarantors).
The total outstanding debt was amended to Rs. 15,30,00,000/- (Rupees Fifteen Crores Thirty Lakhs Only) via an order dated 05.06.2026 in IA(IBC)/857(CHE)/2026.
…Sign in to view the parties.
A Guarantee Agreement was executed…
Loan amount of Rs.…
S. Sephulohniam (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Hotel Radhaprasad Pvt. Ltd. (Corporate Guarantor) to initiate Corporate Insolvency Resolution Process (CIRP). The petition was based on a Guarantee Agreement dated 16.07.2018 for a loan of Rs. 12 crores extended to Hotel Radha Prasad, a partnership firm (Principal Borrower). The total outstanding debt was later amended to Rs. 15,30,00,000/-, with the date of default stated as 06.08.2024. The Corporate Guarantor raised several objections, including that the petition was not maintainable against a partnership firm, the Guarantee Deed was defective due to uncertainty and lack of proper corporate authorization, payments were made from personal
…S. Sephulohniam (Financial Creditor) filed a petition under Section 7 of IBC, 2016, against Hotel Radhaprasad Private Limited (Corporate Debtor/Guarantor).
The petition seeks to initiate Corporate Insolvency Resolution Process (CIRP).
A loan of Rs. 12,00,00,000/- (Rupees Twelve Crores Only) was extended to Hotel Radha Prasad, a partnership firm (Principal Borrower).
A Guarantee Agreement dated 16.07.2018 was executed between S. Sephulohniam, Kumaravel Sepulohniam (Lenders) and M/s. Hotel Radhaprasad (Principal Borrower), R. Radha, R.R. Prasad, and Hotel Radhaprasad Private Limited (Guarantors).
The total outstanding debt was amended to Rs. 15,30,00,000/- (Rupees Fifteen Crores Thirty Lakhs Only) via an order dated 05.06.2026 in IA(IBC)/857(CHE)/2026.
…A Guarantee Agreement was executed…
Loan amount of Rs.…