The case pertains to an application filed under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, by Smt. Jai Shree Mishra, a personal guarantor to M/s Niroz Insulations Pvt. Ltd. and M/s Triveni Agrotraders Pvt. Ltd. (Corporate Debtors). The applicant seeks to initiate the insolvency resolution process. A loan was advanced to the Corporate Debtor by State Bank of India, which later published a demand notice under Section 13(2) of the SARFAESI Act, 2002, due to default. An application under Section 10 of IBC, 2016 has also been filed by the Corporate Debtor itself seeking
…Smt. Jai Shree Mishra, the applicant, is a personal guarantor for M/s Niroz Insulations Pvt. Ltd. and M/s Triveni Agrotraders Pvt. Ltd. (Corporate Debtors). A loan was advanced to the Corporate Debtor by State Bank of India. Due to default, the Financial Creditor published a demand notice under Section 13(2) of the SARFAESI Act, 2002, on 2021-05-24. The applicant failed to fulfill obligations pursuant to the personal guarantee within 60 days of the notice. The total amount of default is Rs. 4,03,90,942/-, owed to various creditors including Kotak Mahindra Bank, Bajaj Finance Ltd., HDB Financial Services Ltd., State Bank of India, IDFC First Bank Ltd., Bank of Baroda, and India Bulls Ltd. The Corporate Debtor itself has filed an application under Section 10 of IBC,
…Sign in to view the parties.
Financial Creditor published a demand notice…
Interim moratorium…
The case pertains to an application filed under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, by Smt. Jai Shree Mishra, a personal guarantor to M/s Niroz Insulations Pvt. Ltd. and M/s Triveni Agrotraders Pvt. Ltd. (Corporate Debtors). The applicant seeks to initiate the insolvency resolution process. A loan was advanced to the Corporate Debtor by State Bank of India, which later published a demand notice under Section 13(2) of the SARFAESI Act, 2002, due to default. An application under Section 10 of IBC, 2016 has also been filed by the Corporate Debtor itself seeking
…Smt. Jai Shree Mishra, the applicant, is a personal guarantor for M/s Niroz Insulations Pvt. Ltd. and M/s Triveni Agrotraders Pvt. Ltd. (Corporate Debtors). A loan was advanced to the Corporate Debtor by State Bank of India. Due to default, the Financial Creditor published a demand notice under Section 13(2) of the SARFAESI Act, 2002, on 2021-05-24. The applicant failed to fulfill obligations pursuant to the personal guarantee within 60 days of the notice. The total amount of default is Rs. 4,03,90,942/-, owed to various creditors including Kotak Mahindra Bank, Bajaj Finance Ltd., HDB Financial Services Ltd., State Bank of India, IDFC First Bank Ltd., Bank of Baroda, and India Bulls Ltd. The Corporate Debtor itself has filed an application under Section 10 of IBC,
…Financial Creditor published a demand notice…
Interim moratorium…