The case involves an application 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, Nitin Jamnadas Thakkar, 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 due to credit facilities extended by IDBI Bank Limited, Axis Bank Limited, Bank of Maharashtra, and Kotak Mahindra Bank Limited in favor of the Corporate Debtor. The CIRP against Maruti Koatsu Cylinders Limited was completed, and the Corporate Debtor was restored on resolution with a new
…Nitin Jamnadas Thakkar is the personal guarantor for Maruti Koatsu Cylinders Limited. The application was filed under Section 94(1) of the IBC, seeking to initiate the Insolvency Resolution Process against Nitin Jamnadas Thakkar. Maruti Koatsu Cylinders Limited underwent CIRP, which was completed, and the company was restored under a resolution plan with a new entity taking over. The application was filed due to credit facilities extended by IDBI Bank Limited, Axis Bank Limited, Bank of Maharashtra, and Kotak Mahindra Bank Limited, for which Nitin Jamnadas Thakkar provided a personal guarantee. A recall notice was issued on 15.06.2015, and the application was filed on 08.12.2023, which is beyond the 3-year limitation period. Axis Bank Limited is within the Ahmedabad
…Sign in to view the parties.
A recall notice was…
The application under…
The case involves an application 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, Nitin Jamnadas Thakkar, 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 due to credit facilities extended by IDBI Bank Limited, Axis Bank Limited, Bank of Maharashtra, and Kotak Mahindra Bank Limited in favor of the Corporate Debtor. The CIRP against Maruti Koatsu Cylinders Limited was completed, and the Corporate Debtor was restored on resolution with a new
…Nitin Jamnadas Thakkar is the personal guarantor for Maruti Koatsu Cylinders Limited. The application was filed under Section 94(1) of the IBC, seeking to initiate the Insolvency Resolution Process against Nitin Jamnadas Thakkar. Maruti Koatsu Cylinders Limited underwent CIRP, which was completed, and the company was restored under a resolution plan with a new entity taking over. The application was filed due to credit facilities extended by IDBI Bank Limited, Axis Bank Limited, Bank of Maharashtra, and Kotak Mahindra Bank Limited, for which Nitin Jamnadas Thakkar provided a personal guarantee. A recall notice was issued on 15.06.2015, and the application was filed on 08.12.2023, which is beyond the 3-year limitation period. Axis Bank Limited is within the Ahmedabad
…A recall notice was…
The application under…