The case involves an application filed by Central Bank of India under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against the personal guarantor, Mr. A. Dominic Savio, of Oceanic Edibles International Limited, a corporate debtor currently undergoing liquidation. The corporate debtor's CIRP commenced on 13.09.2017, and liquidation was ordered on 10.12.2018. The application is based on a Deed of Guarantee executed by the personal guarantor on 21.07.2014. The date of default is stated as 27.06.2019.
Central Bank of India filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Mr. A. Dominic Savio, the personal guarantor of Oceanic Edibles International Limited. Oceanic Edibles International Limited, the corporate debtor, is undergoing liquidation, with CIRP having commenced on 13.09.2017 and liquidation ordered on 10.12.2018. Mr. Savio executed a Deed of Guarantee on 21.07.2014. The date of default, as per the application, is 27.06.2019. Mr. Savio contested the application, claiming it was barred by limitation, arguing that the date of default was wrongly stated by the applicant based on a Recovery Certificate from DRT-2 Chennai. He further argued that if the date of default was considered to be the date the corporate debtor's
…Sign in to view the parties.
CIRP commenced for…
Liquidation was ordered…
The case involves an application filed by Central Bank of India under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against the personal guarantor, Mr. A. Dominic Savio, of Oceanic Edibles International Limited, a corporate debtor currently undergoing liquidation. The corporate debtor's CIRP commenced on 13.09.2017, and liquidation was ordered on 10.12.2018. The application is based on a Deed of Guarantee executed by the personal guarantor on 21.07.2014. The date of default is stated as 27.06.2019.
Central Bank of India filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Mr. A. Dominic Savio, the personal guarantor of Oceanic Edibles International Limited. Oceanic Edibles International Limited, the corporate debtor, is undergoing liquidation, with CIRP having commenced on 13.09.2017 and liquidation ordered on 10.12.2018. Mr. Savio executed a Deed of Guarantee on 21.07.2014. The date of default, as per the application, is 27.06.2019. Mr. Savio contested the application, claiming it was barred by limitation, arguing that the date of default was wrongly stated by the applicant based on a Recovery Certificate from DRT-2 Chennai. He further argued that if the date of default was considered to be the date the corporate debtor's
…CIRP commenced for…
Liquidation was ordered…