Aditya Birla Finance Limited filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against the personal guarantor, Mrs. Vijayalakshmi Subburaj. Mrs. Vijayalakshmi Subburaj is the personal guarantor of the Corporate Debtor against whom CIRP was initiated vide an order dated 29.08.2018. Subsequently, liquidation of the Corporate Debtor was ordered on 12.06.2019.
Aditya Birla Finance Limited (the Applicant) filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Mrs. Vijayalakshmi Subburaj (the Respondent), who is the personal guarantor of a Corporate Debtor. The Corporate Debtor had taken credit facilities from the Applicant, and the Respondent provided a personal guarantee for the loan. The Corporate Debtor defaulted on the debt, leading the Applicant to initiate CIRP against the Corporate Debtor. CIRP was initiated against the Corporate Debtor on 29.08.2018, and subsequently, liquidation was ordered on 12.06.2019. The amount of debt and default is Rs.3,65,28,644, and the date of default is 03.11.2017. The Applicant has placed the Deed of
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CIRP was ini…
Liquidation…
Aditya Birla Finance Limited filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against the personal guarantor, Mrs. Vijayalakshmi Subburaj. Mrs. Vijayalakshmi Subburaj is the personal guarantor of the Corporate Debtor against whom CIRP was initiated vide an order dated 29.08.2018. Subsequently, liquidation of the Corporate Debtor was ordered on 12.06.2019.
Aditya Birla Finance Limited (the Applicant) filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Mrs. Vijayalakshmi Subburaj (the Respondent), who is the personal guarantor of a Corporate Debtor. The Corporate Debtor had taken credit facilities from the Applicant, and the Respondent provided a personal guarantee for the loan. The Corporate Debtor defaulted on the debt, leading the Applicant to initiate CIRP against the Corporate Debtor. CIRP was initiated against the Corporate Debtor on 29.08.2018, and subsequently, liquidation was ordered on 12.06.2019. The amount of debt and default is Rs.3,65,28,644, and the date of default is 03.11.2017. The Applicant has placed the Deed of
…CIRP was ini…
Liquidation…