The case involves a Company Petition filed by Abhyudaya Co-Op Bank Limited, the Financial Creditor, 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. The petition seeks to initiate Personal Insolvency Resolution Process (CIRP) against Ms. Monica Ajeet Mulay, the Personal Guarantor.
Abhyudaya Co-Op Bank Limited, the Financial Creditor, filed a Company Petition under Section 95 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate Personal Insolvency Resolution Process (CIRP) against Ms. Monica Ajeet Mulay, the Personal Guarantor. The petition is based on a deed of guarantee dated 05.12.2013 executed by the Personal Guarantor. A demand notice (Form B) dated 29.06.2024 was successfully delivered to the Personal Guarantor on 03.07.2024. The court found that the requirements under Section 95 of the Code were complete. The Financial Creditor seeks to recover dues guaranteed by the Personal Guarantor. The successful delivery of the demand notice is a key fact establishing compliance with procedural requirements.
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Deed of guarantee…
Demand Notice (Form B)…
The case involves a Company Petition filed by Abhyudaya Co-Op Bank Limited, the Financial Creditor, 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. The petition seeks to initiate Personal Insolvency Resolution Process (CIRP) against Ms. Monica Ajeet Mulay, the Personal Guarantor.
Abhyudaya Co-Op Bank Limited, the Financial Creditor, filed a Company Petition under Section 95 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate Personal Insolvency Resolution Process (CIRP) against Ms. Monica Ajeet Mulay, the Personal Guarantor. The petition is based on a deed of guarantee dated 05.12.2013 executed by the Personal Guarantor. A demand notice (Form B) dated 29.06.2024 was successfully delivered to the Personal Guarantor on 03.07.2024. The court found that the requirements under Section 95 of the Code were complete. The Financial Creditor seeks to recover dues guaranteed by the Personal Guarantor. The successful delivery of the demand notice is a key fact establishing compliance with procedural requirements.
Deed of guarantee…
Demand Notice (Form B)…