DBS Bank India Limited, as the Applicant/Financial Creditor, filed an application under Section 95(1) of the IBC, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for IRP for Personal Guarantors to Corporate Debtor) Rules, 2019, to initiate the Insolvency Resolution Process against Mr. Shiv Sevak Singh, the Personal Guarantor/Debtor, who is the Guarantor of M/s VIL Limited, the Corporate Debtor. The Corporate Debtor had availed multiline working capital facilities from the Applicant Bank, which were renewed and amended over time. In 2010, the Applicant Bank made available working capital facilities aggregating up to Rs. 40,00,00,000/- to the Corporate Debtor under a Working Capital Facility Agreement dated 3rd May 2010,
…DBS Bank India Limited (Applicant/Financial Creditor) filed an application to initiate the Insolvency Resolution Process against Mr. Shiv Sevak Singh (Personal Guarantor/Debtor) under Section 95(1) of IBC, 2016. Mr. Singh is the guarantor of M/s VIL Limited (Corporate Debtor). The Corporate Debtor availed multiline working capital facilities from the Applicant Bank, amounting to Rs. 40,00,00,000/-, under a Working Capital Facility Agreement dated 3rd May 2010. The Applicant entered into a Guarantee deed dated 4th May, 2010, with Mr. Shiv Sevak Singh and Mr. Naushad Ahmed, who were Directors of the Corporate Debtor. The Applicant claims to have served a demand notice to Mr. Singh on 21.01.2021 for an outstanding debt of Rs. 59,65,43,741/- as on 07.07.2015. The court
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Date of the sanction letter No.…
Date of the Working Capital Facility…
DBS Bank India Limited, as the Applicant/Financial Creditor, filed an application under Section 95(1) of the IBC, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for IRP for Personal Guarantors to Corporate Debtor) Rules, 2019, to initiate the Insolvency Resolution Process against Mr. Shiv Sevak Singh, the Personal Guarantor/Debtor, who is the Guarantor of M/s VIL Limited, the Corporate Debtor. The Corporate Debtor had availed multiline working capital facilities from the Applicant Bank, which were renewed and amended over time. In 2010, the Applicant Bank made available working capital facilities aggregating up to Rs. 40,00,00,000/- to the Corporate Debtor under a Working Capital Facility Agreement dated 3rd May 2010,
…DBS Bank India Limited (Applicant/Financial Creditor) filed an application to initiate the Insolvency Resolution Process against Mr. Shiv Sevak Singh (Personal Guarantor/Debtor) under Section 95(1) of IBC, 2016. Mr. Singh is the guarantor of M/s VIL Limited (Corporate Debtor). The Corporate Debtor availed multiline working capital facilities from the Applicant Bank, amounting to Rs. 40,00,00,000/-, under a Working Capital Facility Agreement dated 3rd May 2010. The Applicant entered into a Guarantee deed dated 4th May, 2010, with Mr. Shiv Sevak Singh and Mr. Naushad Ahmed, who were Directors of the Corporate Debtor. The Applicant claims to have served a demand notice to Mr. Singh on 21.01.2021 for an outstanding debt of Rs. 59,65,43,741/- as on 07.07.2015. The court
…Date of the sanction letter No.…
Date of the Working Capital Facility…