The application was filed under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 6(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for IRP for Personal Guarantors to Corporate Debtor) Rules, 2019. The applicant/debtor is the personal guarantor of M/s. Maruti Koatsu Cylinders Limited (the "Corporate Debtor"). The application seeks to initiate the Insolvency Resolution Process against the applicant/debtor for amounts of Rs.15,38,78,506.86, Rs.18,26,05,060, Rs.10,32,40,000, and Rs.2,76,93,067.86 in relation to credit facilities extended by IDBI Bank Limited, Axis Bank Limited, Bank of Maharashtra, and Kotak Mahindra Bank Limited, respectively, in favor of the Corporate Debtor. The CIRP against the Corporate
…Mr. Nitin Jamnadas Thakkar, residing in Mumbai, is the applicant and personal guarantor for M/s. Maruti Koatsu Cylinders Limited, the Corporate Debtor. The application was filed under Section 94(1) of the IBC, seeking to initiate the Insolvency Resolution Process against Mr. Thakkar. The Corporate Debtor owes amounts of Rs.15,38,78,506.86, Rs.18,26,05,060, Rs.10,32,40,000, and Rs.2,76,93,067.86 to IDBI Bank Limited, Axis Bank Limited, Bank of Maharashtra, and Kotak Mahindra Bank Limited, respectively. The CIRP against the Corporate Debtor was completed, and the Corporate Debtor was restored on resolution with a new entity taking over. A recall notice related to the guarantee was issued on 15.06.2015 but was not acknowledged by the guarantor. The application was filed
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A recall notice was…
The application under…
The application was filed under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 6(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for IRP for Personal Guarantors to Corporate Debtor) Rules, 2019. The applicant/debtor is the personal guarantor of M/s. Maruti Koatsu Cylinders Limited (the "Corporate Debtor"). The application seeks to initiate the Insolvency Resolution Process against the applicant/debtor for amounts of Rs.15,38,78,506.86, Rs.18,26,05,060, Rs.10,32,40,000, and Rs.2,76,93,067.86 in relation to credit facilities extended by IDBI Bank Limited, Axis Bank Limited, Bank of Maharashtra, and Kotak Mahindra Bank Limited, respectively, in favor of the Corporate Debtor. The CIRP against the Corporate
…Mr. Nitin Jamnadas Thakkar, residing in Mumbai, is the applicant and personal guarantor for M/s. Maruti Koatsu Cylinders Limited, the Corporate Debtor. The application was filed under Section 94(1) of the IBC, seeking to initiate the Insolvency Resolution Process against Mr. Thakkar. The Corporate Debtor owes amounts of Rs.15,38,78,506.86, Rs.18,26,05,060, Rs.10,32,40,000, and Rs.2,76,93,067.86 to IDBI Bank Limited, Axis Bank Limited, Bank of Maharashtra, and Kotak Mahindra Bank Limited, respectively. The CIRP against the Corporate Debtor was completed, and the Corporate Debtor was restored on resolution with a new entity taking over. A recall notice related to the guarantee was issued on 15.06.2015 but was not acknowledged by the guarantor. The application was filed
…A recall notice was…
The application under…