The case involves an application filed by Bank of Baroda under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against K Gangaprasad, the personal guarantor of M/s. GVR Infra Projects Limited. CIRP was initiated against GVR Infra Projects Limited vide an order dated 17.10.2018 in CP/941/(IB)/2018. The corporate debtor is currently under liquidation before Court – II of the Tribunal.
Bank of Baroda filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate Insolvency Resolution Process against K Gangaprasad, the personal guarantor of M/s. GVR Infra Projects Limited. The corporate debtor, GVR Infra Projects Limited, had taken credit facilities from Bank of Baroda, and K Gangaprasad had provided a personal guarantee for the loan. The corporate debtor defaulted on the repayment of the debt. The total debt was Rs.234,47,71,269/-, and the default amount was Rs. 196,07,19,882/-. The date of default was 12.08.2020. CIRP had been initiated against GVR Infra Projects Limited vide an order dated 17.10.2018 in CP/941/(IB)/2018, and the company is currently under liquidation before Court – II of the Tribunal. The
…Sign in to view the parties.
CIRP was initiated against GVR Infra Projects…
The date of def…
The case involves an application filed by Bank of Baroda under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against K Gangaprasad, the personal guarantor of M/s. GVR Infra Projects Limited. CIRP was initiated against GVR Infra Projects Limited vide an order dated 17.10.2018 in CP/941/(IB)/2018. The corporate debtor is currently under liquidation before Court – II of the Tribunal.
Bank of Baroda filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate Insolvency Resolution Process against K Gangaprasad, the personal guarantor of M/s. GVR Infra Projects Limited. The corporate debtor, GVR Infra Projects Limited, had taken credit facilities from Bank of Baroda, and K Gangaprasad had provided a personal guarantee for the loan. The corporate debtor defaulted on the repayment of the debt. The total debt was Rs.234,47,71,269/-, and the default amount was Rs. 196,07,19,882/-. The date of default was 12.08.2020. CIRP had been initiated against GVR Infra Projects Limited vide an order dated 17.10.2018 in CP/941/(IB)/2018, and the company is currently under liquidation before Court – II of the Tribunal. The
…CIRP was initiated against GVR Infra Projects…
The date of def…