The Bank of Baroda filed an application to initiate the Insolvency Resolution Process against Mr. Sanjay Somani, who is the personal guarantor for M/s Aditya Telelink Limited (Corporate Debtor). The application was filed under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the relevant rules. Mr. Somani had provided a personal guarantee to secure loans availed by the Corporate Debtor.
The Bank of Baroda (Applicant/Creditor) filed an application to initiate the Insolvency Resolution Process against Mr. Sanjay Somani (Personal Guarantor/Respondent) for M/s Aditya Telelink Limited (Corporate Debtor). Mr. Somani provided a personal guarantee for loans availed by the Corporate Debtor. The loan was sanctioned on 2010-06-12, with a cash credit of Rs. 12 crores and a bank guarantee of Rs. 3 crores, totaling Rs. 15 crores. The General Form of Guarantee was executed on 2010-06-12 by Mr. Sanjay Somani. On 2012-04-09, the loan was enhanced to Rs. 18 crores. The credit facility was renewed, and the Corporate Debtor acknowledged the loan on 2016-05-16. The loan account was classified as a Non-Performing Asset on 2016-09-28. A Recovery Certificate was issued on
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Loan sanctioned to the Corporate Debtor with a…
The General Form of Guarantee was executed by…
The Bank of Baroda filed an application to initiate the Insolvency Resolution Process against Mr. Sanjay Somani, who is the personal guarantor for M/s Aditya Telelink Limited (Corporate Debtor). The application was filed under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the relevant rules. Mr. Somani had provided a personal guarantee to secure loans availed by the Corporate Debtor.
The Bank of Baroda (Applicant/Creditor) filed an application to initiate the Insolvency Resolution Process against Mr. Sanjay Somani (Personal Guarantor/Respondent) for M/s Aditya Telelink Limited (Corporate Debtor). Mr. Somani provided a personal guarantee for loans availed by the Corporate Debtor. The loan was sanctioned on 2010-06-12, with a cash credit of Rs. 12 crores and a bank guarantee of Rs. 3 crores, totaling Rs. 15 crores. The General Form of Guarantee was executed on 2010-06-12 by Mr. Sanjay Somani. On 2012-04-09, the loan was enhanced to Rs. 18 crores. The credit facility was renewed, and the Corporate Debtor acknowledged the loan on 2016-05-16. The loan account was classified as a Non-Performing Asset on 2016-09-28. A Recovery Certificate was issued on
…Loan sanctioned to the Corporate Debtor with a…
The General Form of Guarantee was executed by…