The case involves a petition filed under Section 95 of the Insolvency and 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. Anchor Leasing Pvt. Ltd., the Financial Creditor, initiated the insolvency process against Mrs. Anju Dhiraj Gada, the Personal Guarantor, for recovery of Rs. 26,40,48,694/- as of 24.05.2021, with interest at 21% per annum. The date of default was specified as 30.06.2010. The Corporate Debtor, Sejal Glass Limited, had its own corporate insolvency resolution process initiated earlier. The Financial Creditor claims that the Personal Guarantor is liable for the outstanding debt of the Corporate
…Anchor Leasing Pvt. Ltd. (Financial Creditor) filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, against Mrs. Anju Dhiraj Gada (Personal Guarantor) to recover Rs. 26,40,48,694/- as of 24.05.2021, with interest at 21% per annum, related to a debt of Sejal Glass Limited (Corporate Debtor). The date of default was 30.06.2010. The Financial Creditor invoked the guarantee provided by the Guarantor under a Deed of Guarantee dated August 11, 2009. The Personal Guarantor filed an Interlocutory Application challenging the maintainability of the petition, raising issues such as the time-barred nature of the demand notice, incorrect debt amount, and insufficient stamping of the deed of guarantee. The Corporate Debtor's insolvency resolution process had
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Deed of Gua…
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The case involves a petition filed under Section 95 of the Insolvency and 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. Anchor Leasing Pvt. Ltd., the Financial Creditor, initiated the insolvency process against Mrs. Anju Dhiraj Gada, the Personal Guarantor, for recovery of Rs. 26,40,48,694/- as of 24.05.2021, with interest at 21% per annum. The date of default was specified as 30.06.2010. The Corporate Debtor, Sejal Glass Limited, had its own corporate insolvency resolution process initiated earlier. The Financial Creditor claims that the Personal Guarantor is liable for the outstanding debt of the Corporate
…Anchor Leasing Pvt. Ltd. (Financial Creditor) filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, against Mrs. Anju Dhiraj Gada (Personal Guarantor) to recover Rs. 26,40,48,694/- as of 24.05.2021, with interest at 21% per annum, related to a debt of Sejal Glass Limited (Corporate Debtor). The date of default was 30.06.2010. The Financial Creditor invoked the guarantee provided by the Guarantor under a Deed of Guarantee dated August 11, 2009. The Personal Guarantor filed an Interlocutory Application challenging the maintainability of the petition, raising issues such as the time-barred nature of the demand notice, incorrect debt amount, and insufficient stamping of the deed of guarantee. The Corporate Debtor's insolvency resolution process had
…Deed of Gua…
Date of Defa…