The case involves a petition filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, by Invent Assets Securitization and Reconstruction Private Limited (the 'Petitioner'), a Non-Banking Finance Company, against Mrs. Kaushal Sharma, one of the directors of M/s Balaji Coke Industry Pvt.Ltd. (the 'Corporate Debtor'), for initiating the Insolvency Resolution Process due to a debt amounting to Rs. 126,36,61,882/-. The Corporate Debtor and Personal Guarantor had approached the applicant seeking grant of various financial facilities. The Applicant extended various Credit facilities on 08/08/2009 & 29/10/2009 and granted Cash Credit Facility. As per the Credit Facility, Corporate Debtor was obliged to repay the Principal sum of loan along with interest in
…Invent Assets Securitization and Reconstruction Private Limited, a Non-Banking Finance Company, filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Mrs. Kaushal Sharma, a director and personal guarantor of M/s Balaji Coke Industry Pvt.Ltd., the Corporate Debtor. The petition seeks to initiate the Insolvency Resolution Process due to a debt of Rs. 126,36,61,882/-. The Corporate Debtor had obtained credit facilities from the Applicant on 08/08/2009 and 29/10/2009, secured by a personal guarantee executed by Mrs. Kaushal Sharma on 08/09/2011. The Corporate Debtor defaulted on the repayment obligations, leading the Applicant to classify the account as an NPA on 26/12/2012. A demand notice was issued on 07/03/2013 under Section 13(2) of
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Applicant extended…
Applicant extended…
The case involves a petition filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, by Invent Assets Securitization and Reconstruction Private Limited (the 'Petitioner'), a Non-Banking Finance Company, against Mrs. Kaushal Sharma, one of the directors of M/s Balaji Coke Industry Pvt.Ltd. (the 'Corporate Debtor'), for initiating the Insolvency Resolution Process due to a debt amounting to Rs. 126,36,61,882/-. The Corporate Debtor and Personal Guarantor had approached the applicant seeking grant of various financial facilities. The Applicant extended various Credit facilities on 08/08/2009 & 29/10/2009 and granted Cash Credit Facility. As per the Credit Facility, Corporate Debtor was obliged to repay the Principal sum of loan along with interest in
…Invent Assets Securitization and Reconstruction Private Limited, a Non-Banking Finance Company, filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Mrs. Kaushal Sharma, a director and personal guarantor of M/s Balaji Coke Industry Pvt.Ltd., the Corporate Debtor. The petition seeks to initiate the Insolvency Resolution Process due to a debt of Rs. 126,36,61,882/-. The Corporate Debtor had obtained credit facilities from the Applicant on 08/08/2009 and 29/10/2009, secured by a personal guarantee executed by Mrs. Kaushal Sharma on 08/09/2011. The Corporate Debtor defaulted on the repayment obligations, leading the Applicant to classify the account as an NPA on 26/12/2012. A demand notice was issued on 07/03/2013 under Section 13(2) of
…Applicant extended…
Applicant extended…