Indian Bank, Stressed Assets Management Branch, filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against the Personal Guarantor, S Suseela, of M/s. Eureka Automobiles Pvt Ltd, the Corporate Debtor. The application was filed due to the Corporate Debtor's failure to repay credit facilities extended by the Applicant, for which the Respondent had provided a personal guarantee. The date of default was 31.01.2019.
Indian Bank, Stressed Assets Management Branch, filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against S Suseela, the Personal Guarantor of M/s. Eureka Automobiles Pvt Ltd (the Corporate Debtor). The Corporate Debtor had taken credit facilities from Indian Bank, and S Suseela had provided a personal guarantee for the loan. The Corporate Debtor defaulted on the repayment of the debt, leading Indian Bank to initiate the Personal Insolvency Process against S Suseela. The amount of default was Rs.9,31,47,787.94/-, and the date of default was 31.01.2019. Indian Bank submitted documents including the Medium Term Loan Agreement dated 19.10.2016, Deed of hypothecation of movables dated
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Indian Bank, Stressed Assets Management Branch, filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against the Personal Guarantor, S Suseela, of M/s. Eureka Automobiles Pvt Ltd, the Corporate Debtor. The application was filed due to the Corporate Debtor's failure to repay credit facilities extended by the Applicant, for which the Respondent had provided a personal guarantee. The date of default was 31.01.2019.
Indian Bank, Stressed Assets Management Branch, filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against S Suseela, the Personal Guarantor of M/s. Eureka Automobiles Pvt Ltd (the Corporate Debtor). The Corporate Debtor had taken credit facilities from Indian Bank, and S Suseela had provided a personal guarantee for the loan. The Corporate Debtor defaulted on the repayment of the debt, leading Indian Bank to initiate the Personal Insolvency Process against S Suseela. The amount of default was Rs.9,31,47,787.94/-, and the date of default was 31.01.2019. Indian Bank submitted documents including the Medium Term Loan Agreement dated 19.10.2016, Deed of hypothecation of movables dated
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Order pronoun…