The present application was filed on 29.01.2024 under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 (1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtor) Rules, 2019, to initiate the Insolvency Resolution Process against the Applicant/Debtor, who is the Personal Guarantor of M/s Jay Dwarkadish Agri International LLP. The total default amount was Rs.6,52,29,981.82. The credit facility was extended by the Respondent Banks, namely Central Bank of India and ICICI Bank Limited. The corporate debtor availed a Term Loan of Rs.307.00 Lakhs and a CC limit of Rs.100.00 Lakhs for Working Capital. The applicant also availed OD cent Credit Facility as Prop. of M/s
…Mr. Hariom Rambabu Gupta filed an application under Section 94 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the insolvency resolution process as a personal guarantor to M/s Jay Dwarkadish Agri International LLP, the corporate debtor. The corporate debtor had availed credit facilities from Central Bank of India and ICICI Bank Limited, defaulting on a total amount of Rs.6,52,29,981.82. The Central Bank of India initiated recovery proceedings under the SARFAESI Act, including issuing demand notices and conducting a public auction of the corporate debtor's property. The applicant had also availed various credit facilities, including OD cent Credit Facility, Housing Loan, and Personal Loan Facilities, and had defaulted on these loans. The Central Bank of
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The present application was filed on 29.01.2024 under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 (1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtor) Rules, 2019, to initiate the Insolvency Resolution Process against the Applicant/Debtor, who is the Personal Guarantor of M/s Jay Dwarkadish Agri International LLP. The total default amount was Rs.6,52,29,981.82. The credit facility was extended by the Respondent Banks, namely Central Bank of India and ICICI Bank Limited. The corporate debtor availed a Term Loan of Rs.307.00 Lakhs and a CC limit of Rs.100.00 Lakhs for Working Capital. The applicant also availed OD cent Credit Facility as Prop. of M/s
…Mr. Hariom Rambabu Gupta filed an application under Section 94 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the insolvency resolution process as a personal guarantor to M/s Jay Dwarkadish Agri International LLP, the corporate debtor. The corporate debtor had availed credit facilities from Central Bank of India and ICICI Bank Limited, defaulting on a total amount of Rs.6,52,29,981.82. The Central Bank of India initiated recovery proceedings under the SARFAESI Act, including issuing demand notices and conducting a public auction of the corporate debtor's property. The applicant had also availed various credit facilities, including OD cent Credit Facility, Housing Loan, and Personal Loan Facilities, and had defaulted on these loans. The Central Bank of
…The present application was filed under…
Loan accounts of the…