Abhyudaya Co-Op Bank Limited filed a Company Petition under Section 95 of the Insolvency & Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, seeking to initiate Personal Insolvency Resolution Process (CIRP) against Mr. Kunal Gopichand Chavan, the Personal Guarantor. The Financial Creditor presented a deed of guarantee dated 2013-12-05 executed by the Personal Guarantor and a copy of the Demand Notice (Form B) dated 2024-06-29, which was successfully delivered to the Personal Guarantor on 2024-07-04.
Abhyudaya Co-Op Bank Limited, the Financial Creditor, filed a petition under Section 95 of the Insolvency & Bankruptcy Code, 2016, to initiate Personal Insolvency Resolution Process (CIRP) against Mr. Kunal Gopichand Chavan, the Personal Guarantor. The petition was filed based on a deed of guarantee dated 2013-12-05 executed by Mr. Chavan. A Demand Notice (Form B) dated 2024-06-29 was served on Mr. Chavan on 2024-07-04. The NCLT bench appointed Mr. Manish Lalji Dawada as the Resolution Professional and directed the Financial Creditor to pay an advance of Rs. 2,00,000 to the RP. An interim moratorium was declared from the date of filing the application.
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Deed of guarantee…
Demand Notice (Form B)…
Abhyudaya Co-Op Bank Limited filed a Company Petition under Section 95 of the Insolvency & Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, seeking to initiate Personal Insolvency Resolution Process (CIRP) against Mr. Kunal Gopichand Chavan, the Personal Guarantor. The Financial Creditor presented a deed of guarantee dated 2013-12-05 executed by the Personal Guarantor and a copy of the Demand Notice (Form B) dated 2024-06-29, which was successfully delivered to the Personal Guarantor on 2024-07-04.
Abhyudaya Co-Op Bank Limited, the Financial Creditor, filed a petition under Section 95 of the Insolvency & Bankruptcy Code, 2016, to initiate Personal Insolvency Resolution Process (CIRP) against Mr. Kunal Gopichand Chavan, the Personal Guarantor. The petition was filed based on a deed of guarantee dated 2013-12-05 executed by Mr. Chavan. A Demand Notice (Form B) dated 2024-06-29 was served on Mr. Chavan on 2024-07-04. The NCLT bench appointed Mr. Manish Lalji Dawada as the Resolution Professional and directed the Financial Creditor to pay an advance of Rs. 2,00,000 to the RP. An interim moratorium was declared from the date of filing the application.
Deed of guarantee…
Demand Notice (Form B)…