The case involves a Company Petition filed by Madhavi Suhas Doshi, the Personal Guarantor to Autocop India Pvt. Ltd., under Section 94(1) of the Insolvency & Bankruptcy Code, 2016, seeking to initiate a bankruptcy process against herself. Autocop India Pvt. Ltd. had obtained loans secured by guarantee agreements from various banks. The company faced financial difficulties due to the impact of Covid-19, leading to a Corporate Insolvency Resolution Process initiated against it. Madhavi Suhas Doshi, as the guarantor, is unable to pay the liability arising from the guarantee, with her total liability exceeding her assets.
Madhavi Suhas Doshi, the Applicant, is the Personal Guarantor to Autocop India Pvt. Ltd. Autocop India Pvt. Ltd. obtained loans from various banks, secured by guarantee agreements executed by the Applicant. Autocop India Pvt. Ltd. faced financial difficulties due to the impact of Covid-19, leading to a Corporate Insolvency Resolution Process initiated against it under CP(IB)No.2043(MB)/C-II/2018, with an order dated 2022-03-16. The Applicant, as the guarantor, is unable to pay the liability arising from the guarantee, with a total liability of Rs.72,81,97,713/- exceeding her assets. The Applicant filed a Company Petition under Section 94(1) of the Insolvency & Bankruptcy Code, 2016, seeking to initiate a bankruptcy process against herself. A copy of the petition
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An order was issued for the Corporate Insolvency…
Order sheet…
The case involves a Company Petition filed by Madhavi Suhas Doshi, the Personal Guarantor to Autocop India Pvt. Ltd., under Section 94(1) of the Insolvency & Bankruptcy Code, 2016, seeking to initiate a bankruptcy process against herself. Autocop India Pvt. Ltd. had obtained loans secured by guarantee agreements from various banks. The company faced financial difficulties due to the impact of Covid-19, leading to a Corporate Insolvency Resolution Process initiated against it. Madhavi Suhas Doshi, as the guarantor, is unable to pay the liability arising from the guarantee, with her total liability exceeding her assets.
Madhavi Suhas Doshi, the Applicant, is the Personal Guarantor to Autocop India Pvt. Ltd. Autocop India Pvt. Ltd. obtained loans from various banks, secured by guarantee agreements executed by the Applicant. Autocop India Pvt. Ltd. faced financial difficulties due to the impact of Covid-19, leading to a Corporate Insolvency Resolution Process initiated against it under CP(IB)No.2043(MB)/C-II/2018, with an order dated 2022-03-16. The Applicant, as the guarantor, is unable to pay the liability arising from the guarantee, with a total liability of Rs.72,81,97,713/- exceeding her assets. The Applicant filed a Company Petition under Section 94(1) of the Insolvency & Bankruptcy Code, 2016, seeking to initiate a bankruptcy process against herself. A copy of the petition
…An order was issued for the Corporate Insolvency…
Order sheet…