The case involves a Company Petition filed by LICHFL Trustee Company Private Limited, the Applicant/Financial Creditor, under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC), 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 petition seeks to initiate Personal Insolvency Resolution Process (CIRP) against Harshada Natesh Shinde, the Personal Guarantor. The Applicant claims a total outstanding amount of Rs.163,90,84,518/-. A related petition, CP No. 1147/MB/2020, under section 7 of the Code, was admitted against Anudan Properties Private Limited (the Corporate Debtor) on 15.03.2021. The Personal Guarantee was invoked
…LICHFL Trustee Company Private Limited filed a Company Petition under Section 95 of the IBC, seeking to initiate Personal Insolvency Resolution Process (CIRP) against Harshada Natesh Shinde, who is the Personal Guarantor for Anudan Properties Private Limited, the Corporate Debtor. The Applicant claims a total outstanding amount of Rs.163,90,84,518/-. A related petition against the Corporate Debtor was admitted on 15.03.2021. The Personal Guarantee was invoked via a Demand Notice dated 10.06.2021, which was served on the Personal Guarantor on 25.06.2021. The Personal Guarantor did not reply to the Demand Notice. The Personal Guarantor argued that the Demand Notice was not in the proper format. The court found that the Demand Notice met the essential requirements of the
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Petition bearing CP No. 1147/MB/2020 under…
Demand Notice dated…
The case involves a Company Petition filed by LICHFL Trustee Company Private Limited, the Applicant/Financial Creditor, under Section 95 of the Insolvency & Bankruptcy Code, 2016 (IBC), 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 petition seeks to initiate Personal Insolvency Resolution Process (CIRP) against Harshada Natesh Shinde, the Personal Guarantor. The Applicant claims a total outstanding amount of Rs.163,90,84,518/-. A related petition, CP No. 1147/MB/2020, under section 7 of the Code, was admitted against Anudan Properties Private Limited (the Corporate Debtor) on 15.03.2021. The Personal Guarantee was invoked
…LICHFL Trustee Company Private Limited filed a Company Petition under Section 95 of the IBC, seeking to initiate Personal Insolvency Resolution Process (CIRP) against Harshada Natesh Shinde, who is the Personal Guarantor for Anudan Properties Private Limited, the Corporate Debtor. The Applicant claims a total outstanding amount of Rs.163,90,84,518/-. A related petition against the Corporate Debtor was admitted on 15.03.2021. The Personal Guarantee was invoked via a Demand Notice dated 10.06.2021, which was served on the Personal Guarantor on 25.06.2021. The Personal Guarantor did not reply to the Demand Notice. The Personal Guarantor argued that the Demand Notice was not in the proper format. The court found that the Demand Notice met the essential requirements of the
…Petition bearing CP No. 1147/MB/2020 under…
Demand Notice dated…