Indian Bank filed a Company Petition for initiation of Insolvency Resolution Process against Koppara Gul Hussain Sait, the Personal Guarantor of M/s. LANDMARK MOTELS AND TRAVELS PVT. LTD. The Financial Creditor presented a copy of the deed of guarantee executed by the Personal Guarantor in their favor, dated 14.02.2019 and 25.11.2020, and a demand notice (Form-B) dated 07.11.2023, calling upon the Personal Guarantor to pay an outstanding amount of Rs. 34,64,23,853.20/- as on 30.09.2023.
Indian Bank filed a Company Petition to initiate Insolvency Resolution Process against Koppara Gul Hussain Sait, who is the Personal Guarantor for M/s. LANDMARK MOTELS AND TRAVELS PVT. LTD. The Financial Creditor presented a deed of guarantee executed by Koppara Gul Hussain Sait in favor of Indian Bank, dated 14.02.2019 and 25.11.2020. A demand notice (Form-B) dated 07.11.2023 was issued to the Personal Guarantor, demanding payment of Rs. 34,64,23,853.20/- outstanding as of 30.09.2023. The relevance of these facts lies in establishing the existence of a debt and a personal guarantee, which are prerequisites for initiating insolvency proceedings against the guarantor.
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Personal Guarantor…
Personal Guarantor…
Indian Bank filed a Company Petition for initiation of Insolvency Resolution Process against Koppara Gul Hussain Sait, the Personal Guarantor of M/s. LANDMARK MOTELS AND TRAVELS PVT. LTD. The Financial Creditor presented a copy of the deed of guarantee executed by the Personal Guarantor in their favor, dated 14.02.2019 and 25.11.2020, and a demand notice (Form-B) dated 07.11.2023, calling upon the Personal Guarantor to pay an outstanding amount of Rs. 34,64,23,853.20/- as on 30.09.2023.
Indian Bank filed a Company Petition to initiate Insolvency Resolution Process against Koppara Gul Hussain Sait, who is the Personal Guarantor for M/s. LANDMARK MOTELS AND TRAVELS PVT. LTD. The Financial Creditor presented a deed of guarantee executed by Koppara Gul Hussain Sait in favor of Indian Bank, dated 14.02.2019 and 25.11.2020. A demand notice (Form-B) dated 07.11.2023 was issued to the Personal Guarantor, demanding payment of Rs. 34,64,23,853.20/- outstanding as of 30.09.2023. The relevance of these facts lies in establishing the existence of a debt and a personal guarantee, which are prerequisites for initiating insolvency proceedings against the guarantor.
Personal Guarantor…
Personal Guarantor…