The Bank of Maharashtra filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, to initiate the insolvency resolution process against Gulabrao Khanderao Shinde, the personal guarantor of Trimurti Corns Agro Foods Private Limited. The corporate debtor and its guarantors had approached the financial creditor in 2016 for credit facilities, which were sanctioned. The corporate debtor defaulted on repayments, leading to the petition.
The Bank of Maharashtra filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, to initiate the insolvency resolution process against Gulabrao Khanderao Shinde, the personal guarantor of Trimurti Corns Agro Foods Private Limited. The Corporate Debtor and its Guarantors approached the Financial Creditor in 2016 and requested for various credit facilities which was then sanctioned by the Financial Creditor vide a sanction Letter on 30.09.2016 for their purpose of business. Gulabrao Khanderao Shinde guaranteed the repayment of credit facilities availed by the Corporate Debtor. The liability of the Guarantor is based upon the Deed of Guarantee dated 21.10.2016. The Principal Borrower/Corporate Debtor defaulted in repayment of the said credit
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The Bank of Maharashtra filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, to initiate the insolvency resolution process against Gulabrao Khanderao Shinde, the personal guarantor of Trimurti Corns Agro Foods Private Limited. The corporate debtor and its guarantors had approached the financial creditor in 2016 for credit facilities, which were sanctioned. The corporate debtor defaulted on repayments, leading to the petition.
The Bank of Maharashtra filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, to initiate the insolvency resolution process against Gulabrao Khanderao Shinde, the personal guarantor of Trimurti Corns Agro Foods Private Limited. The Corporate Debtor and its Guarantors approached the Financial Creditor in 2016 and requested for various credit facilities which was then sanctioned by the Financial Creditor vide a sanction Letter on 30.09.2016 for their purpose of business. Gulabrao Khanderao Shinde guaranteed the repayment of credit facilities availed by the Corporate Debtor. The liability of the Guarantor is based upon the Deed of Guarantee dated 21.10.2016. The Principal Borrower/Corporate Debtor defaulted in repayment of the said credit
…The Corporate Debtor and its Guarantors…
The Financial Creditor…