The case pertains to an application filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, by HDFC Bank Limited against Mrs. Renu Gambhir, the personal guarantor to a corporate debtor. The application seeks to initiate the Insolvency Resolution Process against the personal guarantor due to a default of Rs. 52,26,96,631, for which the guarantee has been invoked by the petitioner. A statutory notice of demand dated 09.07.2021 was served to the respondent, but no payment was made.
HDFC Bank Limited filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Mrs. Renu Gambhir, who is the personal guarantor to a corporate debtor. The application was filed due to a default of Rs. 52,26,96,631, for which the guarantee was invoked by HDFC Bank. A statutory notice of demand dated 09.07.2021 was served to Mrs. Gambhir, requesting payment of the defaulted amount. Despite receiving the notice, Mrs. Gambhir failed to make any payment. The Tribunal issued a limited notice to Mrs. Gambhir on 09.09.2022, which was duly served. The applicant filed an affidavit of service dated 17.09.2022. Shri Mukesh Kumar Jain was proposed as the Resolution Professional.
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A statutory notice of demand was issued to Mrs.…
The Tribunal ordered…
The case pertains to an application filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, by HDFC Bank Limited against Mrs. Renu Gambhir, the personal guarantor to a corporate debtor. The application seeks to initiate the Insolvency Resolution Process against the personal guarantor due to a default of Rs. 52,26,96,631, for which the guarantee has been invoked by the petitioner. A statutory notice of demand dated 09.07.2021 was served to the respondent, but no payment was made.
HDFC Bank Limited filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Mrs. Renu Gambhir, who is the personal guarantor to a corporate debtor. The application was filed due to a default of Rs. 52,26,96,631, for which the guarantee was invoked by HDFC Bank. A statutory notice of demand dated 09.07.2021 was served to Mrs. Gambhir, requesting payment of the defaulted amount. Despite receiving the notice, Mrs. Gambhir failed to make any payment. The Tribunal issued a limited notice to Mrs. Gambhir on 09.09.2022, which was duly served. The applicant filed an affidavit of service dated 17.09.2022. Shri Mukesh Kumar Jain was proposed as the Resolution Professional.
A statutory notice of demand was issued to Mrs.…
The Tribunal ordered…