This is an application filed under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016 by Axis Bank Limited, the creditor, against Govindbhai Veljibhai Patel, the Personal Guarantor of Ambition Mica Limited. The Personal Guarantor executed a deed of guarantee on 30.03.2018, and the amount of default is Rs. 23,55,97,901/-. The applicant issued a demand notice under Rule 7(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for IRP for Personal Guarantor to Corporate Debtor) Rules, 2019 on 18.04.2023. The date of default mentioned in the application is 17.06.2022.
Axis Bank Limited filed an application under Section 95 of the IBC, 2016, against Govindbhai Veljibhai Patel, who is the Personal Guarantor of Ambition Mica Limited. The Personal Guarantor executed a deed of guarantee on 30.03.2018. The amount of default is Rs. 23,55,97,901/-. The applicant served a demand notice under Rule 7(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for IRP for Personal Guarantor to Corporate Debtor) Rules, 2019 on 18.04.2023. The date of default mentioned in the application is 17.06.2022. The creditor raised certain defenses, which will be considered after the Resolution Professional files a report.
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The Personal G…
The date of de…
This is an application filed under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016 by Axis Bank Limited, the creditor, against Govindbhai Veljibhai Patel, the Personal Guarantor of Ambition Mica Limited. The Personal Guarantor executed a deed of guarantee on 30.03.2018, and the amount of default is Rs. 23,55,97,901/-. The applicant issued a demand notice under Rule 7(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for IRP for Personal Guarantor to Corporate Debtor) Rules, 2019 on 18.04.2023. The date of default mentioned in the application is 17.06.2022.
Axis Bank Limited filed an application under Section 95 of the IBC, 2016, against Govindbhai Veljibhai Patel, who is the Personal Guarantor of Ambition Mica Limited. The Personal Guarantor executed a deed of guarantee on 30.03.2018. The amount of default is Rs. 23,55,97,901/-. The applicant served a demand notice under Rule 7(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for IRP for Personal Guarantor to Corporate Debtor) Rules, 2019 on 18.04.2023. The date of default mentioned in the application is 17.06.2022. The creditor raised certain defenses, which will be considered after the Resolution Professional files a report.
The Personal G…
The date of de…