The case involves an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. The Financial Creditor, Indian Bank, seeks initiation of the Insolvency Resolution Process against the Respondent/Personal Guarantor, Mr. Ankur Prahladka, who is a personal guarantor to the Corporate Debtor, M/s Hitaishi KK Manufacturing Company Private Limited. The application was filed due to a default of Rs. 38,14,77,063.05/-. The Resolution Professional, Mr. Abhisekh Khemka, was appointed to assess the application. The Personal Guarantor did not raise any objections to the Resolution
…Indian Bank, the Financial Creditor, filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Mr. Ankur Prahladka, the Personal Guarantor, due to a default of Rs. 38,14,77,063.05/-. This debt relates to credit facilities sanctioned to M/s Hitaishi KK Manufacturing Company Private Limited, the Corporate Debtor, totaling Rs. 39.18 crore on 2021-12-27. The Corporate Debtor's account was classified as NPA on 2023-07-02 due to non-servicing of interest/installment. The application was filed because Mr. Ankur Prahladka is a personal guarantor for the Corporate Debtor. The Resolution Professional, Mr. Abhisekh Khemka, was appointed and recommended admission of the personal guarantor into the insolvency resolution process. The Personal
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M/s Hitaishi KK Manufacturing Company Private…
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The case involves an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. The Financial Creditor, Indian Bank, seeks initiation of the Insolvency Resolution Process against the Respondent/Personal Guarantor, Mr. Ankur Prahladka, who is a personal guarantor to the Corporate Debtor, M/s Hitaishi KK Manufacturing Company Private Limited. The application was filed due to a default of Rs. 38,14,77,063.05/-. The Resolution Professional, Mr. Abhisekh Khemka, was appointed to assess the application. The Personal Guarantor did not raise any objections to the Resolution
…Indian Bank, the Financial Creditor, filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Mr. Ankur Prahladka, the Personal Guarantor, due to a default of Rs. 38,14,77,063.05/-. This debt relates to credit facilities sanctioned to M/s Hitaishi KK Manufacturing Company Private Limited, the Corporate Debtor, totaling Rs. 39.18 crore on 2021-12-27. The Corporate Debtor's account was classified as NPA on 2023-07-02 due to non-servicing of interest/installment. The application was filed because Mr. Ankur Prahladka is a personal guarantor for the Corporate Debtor. The Resolution Professional, Mr. Abhisekh Khemka, was appointed and recommended admission of the personal guarantor into the insolvency resolution process. The Personal
…M/s Hitaishi KK Manufacturing Company Private…
Date on which…