The case involves an application filed by Small Industries Development Bank of India (SIDBI) under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against the personal guarantor, Smt. Anny Johnson, of M/s. St John Freight systems Limited. CIRP was initiated against the Corporate Debtor vide an order dated 10.12.2018.
Small Industries Development Bank of India (SIDBI) filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Smt. Anny Johnson, the personal guarantor of M/s. St John Freight systems Limited. The Corporate Debtor, M/s. St John Freight systems Limited, had taken credit facilities from SIDBI. Smt. Anny Johnson had given a personal guarantee for the loan. The Corporate Debtor defaulted on the debt, leading SIDBI to initiate CIRP against the Corporate Debtor. The CIRP against the Corporate Debtor was initiated vide an order dated 10.12.2018. The outstanding debt and default amount are both Rs. 16,36,01,727/-, with the date of default being 09.06.2015. The Corporate Debtor is under liquidation
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The Corporate Debtor…
CIRP was initiated…
The case involves an application filed by Small Industries Development Bank of India (SIDBI) under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against the personal guarantor, Smt. Anny Johnson, of M/s. St John Freight systems Limited. CIRP was initiated against the Corporate Debtor vide an order dated 10.12.2018.
Small Industries Development Bank of India (SIDBI) filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Smt. Anny Johnson, the personal guarantor of M/s. St John Freight systems Limited. The Corporate Debtor, M/s. St John Freight systems Limited, had taken credit facilities from SIDBI. Smt. Anny Johnson had given a personal guarantee for the loan. The Corporate Debtor defaulted on the debt, leading SIDBI to initiate CIRP against the Corporate Debtor. The CIRP against the Corporate Debtor was initiated vide an order dated 10.12.2018. The outstanding debt and default amount are both Rs. 16,36,01,727/-, with the date of default being 09.06.2015. The Corporate Debtor is under liquidation
…The Corporate Debtor…
CIRP was initiated…