The Central Bank of India filed a Company Petition for the initiation of the Corporate Insolvency Resolution Process (CIRP) against Mr. Sameer Subhash Gujjar, the Personal Guarantor of the Corporate Debtor, M/s. Opal Luxury Time Products Ltd. The petition is based on a Deed of Guarantee dated 29.03.2012 and its invocation on 25.09.2019 due to unpaid debt.
Central Bank of India filed a Company Petition to initiate Corporate Insolvency Resolution Process (CIRP) against Sameer Subhash Gujjar, the personal guarantor for Opal Luxury Time Products Ltd. The petition is based on a Deed of Guarantee dated 29.03.2012, invoked on 25.09.2019 due to unpaid debt. The default occurred on 04.10.2019, 10 days after the demand notice. The limitation period, which would have expired on 04.10.2022, was extended by the Supreme Court due to Covid-19. The court considered the Supreme Court's judgment in Arif Azim Company Limited Vs. Aptech Limited regarding the limitation period. The court also referred to Dilip B Jiwrajka Vs. Union of India & Ors. Writ Petition (Civil) No. 1281 of 2021, highlighting the role of the Resolution
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Deed of Guarantee…
Deed of Personal…
The Central Bank of India filed a Company Petition for the initiation of the Corporate Insolvency Resolution Process (CIRP) against Mr. Sameer Subhash Gujjar, the Personal Guarantor of the Corporate Debtor, M/s. Opal Luxury Time Products Ltd. The petition is based on a Deed of Guarantee dated 29.03.2012 and its invocation on 25.09.2019 due to unpaid debt.
Central Bank of India filed a Company Petition to initiate Corporate Insolvency Resolution Process (CIRP) against Sameer Subhash Gujjar, the personal guarantor for Opal Luxury Time Products Ltd. The petition is based on a Deed of Guarantee dated 29.03.2012, invoked on 25.09.2019 due to unpaid debt. The default occurred on 04.10.2019, 10 days after the demand notice. The limitation period, which would have expired on 04.10.2022, was extended by the Supreme Court due to Covid-19. The court considered the Supreme Court's judgment in Arif Azim Company Limited Vs. Aptech Limited regarding the limitation period. The court also referred to Dilip B Jiwrajka Vs. Union of India & Ors. Writ Petition (Civil) No. 1281 of 2021, highlighting the role of the Resolution
…Deed of Guarantee…
Deed of Personal…