This case involves an application filed under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. Ms. Deepa Mukherjee, the applicant and personal guarantor, seeks to initiate the Insolvency Resolution Process. Metriken Integrated Business Private Limited, the corporate debtor, had taken credit facilities from Indian Bank, for which Ms. Mukherjee provided a personal guarantee. The corporate debtor defaulted on the loan, leading to the present application.
Ms. Deepa Mukherjee, residing in Kancheepuram, TN, filed an application as a personal guarantor under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Insolvency Resolution Process. She is the personal guarantor for credit facilities availed by Metriken Integrated Business Private Limited ('Corporate Debtor') from Indian Bank. The Corporate Debtor defaulted on a debt of Rs. 1,23,18,594/- with the date of default being 31.12.2020. A demand notice dated 25.11.2022 was issued by Indian Bank under Section 13(2) of the SARFAESI Act, 2022. Ms. Mukherjee also filed a statement of affairs as on 10.12.2023. She served copies of the application to the Financial Creditor and the Corporate Debtor. The relevance of these facts lies in establishing
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The Corporate…
Indian Bank issued a…
This case involves an application filed under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. Ms. Deepa Mukherjee, the applicant and personal guarantor, seeks to initiate the Insolvency Resolution Process. Metriken Integrated Business Private Limited, the corporate debtor, had taken credit facilities from Indian Bank, for which Ms. Mukherjee provided a personal guarantee. The corporate debtor defaulted on the loan, leading to the present application.
Ms. Deepa Mukherjee, residing in Kancheepuram, TN, filed an application as a personal guarantor under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Insolvency Resolution Process. She is the personal guarantor for credit facilities availed by Metriken Integrated Business Private Limited ('Corporate Debtor') from Indian Bank. The Corporate Debtor defaulted on a debt of Rs. 1,23,18,594/- with the date of default being 31.12.2020. A demand notice dated 25.11.2022 was issued by Indian Bank under Section 13(2) of the SARFAESI Act, 2022. Ms. Mukherjee also filed a statement of affairs as on 10.12.2023. She served copies of the application to the Financial Creditor and the Corporate Debtor. The relevance of these facts lies in establishing
…The Corporate…
Indian Bank issued a…