The Bank of Maharashtra Limited filed four Company Petitions (CP (IB) Nos. 733/MB/2023, 734/MB/2023, 743/MB/2023, and 744/MB/2023) under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to the Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. These petitions sought to initiate the Insolvency Resolution Process against Mr. Suraj Bharatkumar Parekh, Ms. Vrunda Suraj Parekh, Mr. Syed Atif Hussain, and Mr. Mintu Vasant Saliya, who are the personal guarantors to M/s. Macguire Ceramics LLP, the Corporate Debtor. The applications were filed due to a default of Rs. 20,72,62,160.89/- as of 15.07.2023. The applications were filed on two
…Bank of Maharashtra Limited filed four Company Petitions (CP (IB) Nos. 733/MB/2023, 734/MB/2023, 743/MB/2023, and 744/MB/2023) against Mr. Suraj Bharatkumar Parekh, Ms. Vrunda Suraj Parekh, Mr. Syed Atif Hussain, and Mr. Mintu Vasant Saliya, who are personal guarantors to M/s. Macguire Ceramics LLP, the Corporate Debtor. The applications were filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to the Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. The Corporate Debtor defaulted on a loan of Rs. 20,72,62,160.89/- as of 15.07.2023. The loan was sanctioned on 11.06.2012, and the Corporate Debtor executed several documents
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The FC sanctioned an amount of Rs.8,00,00,000/-…
The CD's loan…
The Bank of Maharashtra Limited filed four Company Petitions (CP (IB) Nos. 733/MB/2023, 734/MB/2023, 743/MB/2023, and 744/MB/2023) under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to the Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. These petitions sought to initiate the Insolvency Resolution Process against Mr. Suraj Bharatkumar Parekh, Ms. Vrunda Suraj Parekh, Mr. Syed Atif Hussain, and Mr. Mintu Vasant Saliya, who are the personal guarantors to M/s. Macguire Ceramics LLP, the Corporate Debtor. The applications were filed due to a default of Rs. 20,72,62,160.89/- as of 15.07.2023. The applications were filed on two
…Bank of Maharashtra Limited filed four Company Petitions (CP (IB) Nos. 733/MB/2023, 734/MB/2023, 743/MB/2023, and 744/MB/2023) against Mr. Suraj Bharatkumar Parekh, Ms. Vrunda Suraj Parekh, Mr. Syed Atif Hussain, and Mr. Mintu Vasant Saliya, who are personal guarantors to M/s. Macguire Ceramics LLP, the Corporate Debtor. The applications were filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to the Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. The Corporate Debtor defaulted on a loan of Rs. 20,72,62,160.89/- as of 15.07.2023. The loan was sanctioned on 11.06.2012, and the Corporate Debtor executed several documents
…The FC sanctioned an amount of Rs.8,00,00,000/-…
The CD's loan…