The case involves a petition filed by Asset Reconstruction of India Limited (the 'Petitioner'), a Non-Banking Finance Company, under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Gouri Prasad Goenka, a personal guarantor to Duncan Industries Limited (the 'Corporate Debtor'). The Petitioner seeks to initiate the Insolvency Resolution Process against the personal guarantor due to the Corporate Debtor's failure to repay a debt amounting to Rs. 923,38,88,857.00. The Corporate Debtor had approached the applicant seeking grant of various financial facilities. On the representations made by the “Corporate Debtor", the Applicant extended various Credit facilities and granted Cash Credit Facility. As per the Credit Facility, Corporate Debtor was
…Asset Reconstruction of India Limited, a Non-Banking Finance Company, filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Gouri Prasad Goenka, who is the personal guarantor for Duncan Industries Limited, the Corporate Debtor. The Corporate Debtor owes Rs. 923,38,88,857.00 to the applicant. The Corporate Debtor had approached the applicant seeking grant of various financial facilities. On the representations made by the “Corporate Debtor", the Applicant extended various Credit facilities and granted Cash Credit Facility. As per the Credit Facility, Corporate Debtor was obliged to repay the Principal sum of loan along with interest in accordance with repayment schedule as set out in the agreement. The Deed of Guarantee was
…Sign in to view the parties.
The Deed of Guarantee…
The Applicant issued a Demand Notice in Form B…
The case involves a petition filed by Asset Reconstruction of India Limited (the 'Petitioner'), a Non-Banking Finance Company, under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Gouri Prasad Goenka, a personal guarantor to Duncan Industries Limited (the 'Corporate Debtor'). The Petitioner seeks to initiate the Insolvency Resolution Process against the personal guarantor due to the Corporate Debtor's failure to repay a debt amounting to Rs. 923,38,88,857.00. The Corporate Debtor had approached the applicant seeking grant of various financial facilities. On the representations made by the “Corporate Debtor", the Applicant extended various Credit facilities and granted Cash Credit Facility. As per the Credit Facility, Corporate Debtor was
…Asset Reconstruction of India Limited, a Non-Banking Finance Company, filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Gouri Prasad Goenka, who is the personal guarantor for Duncan Industries Limited, the Corporate Debtor. The Corporate Debtor owes Rs. 923,38,88,857.00 to the applicant. The Corporate Debtor had approached the applicant seeking grant of various financial facilities. On the representations made by the “Corporate Debtor", the Applicant extended various Credit facilities and granted Cash Credit Facility. As per the Credit Facility, Corporate Debtor was obliged to repay the Principal sum of loan along with interest in accordance with repayment schedule as set out in the agreement. The Deed of Guarantee was
…The Deed of Guarantee…
The Applicant issued a Demand Notice in Form B…