The case involves an application filed under Section 95 read with Section 99 of the Insolvency and Bankruptcy Code (IBC), 2016. Bank of Baroda filed a petition under Section 95 of the IBC against Mr. Hari Singh Thakur, who is the personal guarantor for credit facilities availed by M/s. Aastha Surgimed Limited (Corporate Debtor). The Resolution Professional, Mr. Sandeep Kumar Bhatt, filed a report recommending the admission of the application.
Bank of Baroda filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, against Mr. Hari Singh Thakur, who is the personal guarantor for the credit facilities availed by M/s. Aastha Surgimed Limited (Corporate Debtor). The total outstanding amount was Rs. 5,21,91,526.47/- as on 31.08.2021. Mr. Sandeep Kumar Bhatt, the Resolution Professional, filed a report recommending the admission of the application. The Adjudicating Authority observed that the debt was proved, owed by the Corporate Debtor, and acknowledged by the Guarantor. The Guarantor failed to repay the debt within 14 days of the demand notice. The Adjudicating Authority also considered previous orders regarding cost payments, which were not complied with.
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Tribunal appointed Mr. Sandeep Kumar Bhatt as…
The case involves an application filed under Section 95 read with Section 99 of the Insolvency and Bankruptcy Code (IBC), 2016. Bank of Baroda filed a petition under Section 95 of the IBC against Mr. Hari Singh Thakur, who is the personal guarantor for credit facilities availed by M/s. Aastha Surgimed Limited (Corporate Debtor). The Resolution Professional, Mr. Sandeep Kumar Bhatt, filed a report recommending the admission of the application.
Bank of Baroda filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, against Mr. Hari Singh Thakur, who is the personal guarantor for the credit facilities availed by M/s. Aastha Surgimed Limited (Corporate Debtor). The total outstanding amount was Rs. 5,21,91,526.47/- as on 31.08.2021. Mr. Sandeep Kumar Bhatt, the Resolution Professional, filed a report recommending the admission of the application. The Adjudicating Authority observed that the debt was proved, owed by the Corporate Debtor, and acknowledged by the Guarantor. The Guarantor failed to repay the debt within 14 days of the demand notice. The Adjudicating Authority also considered previous orders regarding cost payments, which were not complied with.
Total outstanding…
Tribunal appointed Mr. Sandeep Kumar Bhatt as…