The case pertains to a Company Petition filed by Siemens Financial Services Private Limited under Section 95 of the Insolvency and Bankruptcy Code, 2016, 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 the Insolvency Resolution Process against Mr. Harshvardhan P. Chedda, the Personal Guarantor, for a total outstanding amount of Rs. 3,11,80,722/-. The Corporate Debtor, Prince SWR Systems Private Limited, was admitted into CIRP vide Order of the Tribunal dated 16.04.2021.
Siemens Financial Services Private Limited (the Petitioner) filed a Company Petition against Mr. Harshvardhan P. Chedda (the Personal Guarantor) under Section 95 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate the Insolvency Resolution Process. The claim is for a total outstanding amount of Rs. 3,11,80,722/-. The Financial Creditor had sanctioned loan facilities to the borrower, evidenced by sanction letters dated 28.09.2015, 24.02.2017, and 28.08.2017. Finance Agreements dated 28.10.2015, 07.12.2015, and guarantee agreements dated 28.10.2015 and 07.12.2015 were entered into. Further Finance Agreements dated 09.03.2017, 30.03.2017, and 26.09.2017 were also executed. The borrower and the Personal Guarantor failed to adhere to the financial terms and
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Financial Creditor…
Financial Creditor…
The case pertains to a Company Petition filed by Siemens Financial Services Private Limited under Section 95 of the Insolvency and Bankruptcy Code, 2016, 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 the Insolvency Resolution Process against Mr. Harshvardhan P. Chedda, the Personal Guarantor, for a total outstanding amount of Rs. 3,11,80,722/-. The Corporate Debtor, Prince SWR Systems Private Limited, was admitted into CIRP vide Order of the Tribunal dated 16.04.2021.
Siemens Financial Services Private Limited (the Petitioner) filed a Company Petition against Mr. Harshvardhan P. Chedda (the Personal Guarantor) under Section 95 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate the Insolvency Resolution Process. The claim is for a total outstanding amount of Rs. 3,11,80,722/-. The Financial Creditor had sanctioned loan facilities to the borrower, evidenced by sanction letters dated 28.09.2015, 24.02.2017, and 28.08.2017. Finance Agreements dated 28.10.2015, 07.12.2015, and guarantee agreements dated 28.10.2015 and 07.12.2015 were entered into. Further Finance Agreements dated 09.03.2017, 30.03.2017, and 26.09.2017 were also executed. The borrower and the Personal Guarantor failed to adhere to the financial terms and
…Financial Creditor…
Financial Creditor…