Siemens Financial Services Private Limited filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, for initiating the insolvency resolution process against Mr. Raheem Rautther Meeran, the personal guarantor to M.S.S. Hospital and Nursing College Pvt. Ltd. The corporate debtor had availed credit facilities from the applicant, and the respondent provided a personal guarantee. The corporate debtor defaulted on repayment, leading to the application against the personal guarantor.
M.S.S. Hospital and Nursing College Pvt. Ltd. (the 'corporate debtor') availed credit facilities amounting to Rs. 2,13,77,787 from Siemens Financial Services Private Limited for purchasing medical equipment. These facilities were secured by a personal guarantee from Mr. Raheem Rautther Meeran, the respondent. The credit facilities were granted under finance agreements A8593817 dated 2018-01-12 and A8593814 dated 2018-05-02. The corporate debtor defaulted on repayments, and the account was declared a non-performing asset on 2019-04-12. Siemens Financial Services Private Limited invoked the guarantee and issued a demand notice to Mr. Raheem Rautther Meeran on 2022-08-09 under Section 13(2) of the SARFAESI Act, 2002. A demand notice in Form B was served on the guarantor
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Date of finance agreement A8593817 between…
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Siemens Financial Services Private Limited filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, for initiating the insolvency resolution process against Mr. Raheem Rautther Meeran, the personal guarantor to M.S.S. Hospital and Nursing College Pvt. Ltd. The corporate debtor had availed credit facilities from the applicant, and the respondent provided a personal guarantee. The corporate debtor defaulted on repayment, leading to the application against the personal guarantor.
M.S.S. Hospital and Nursing College Pvt. Ltd. (the 'corporate debtor') availed credit facilities amounting to Rs. 2,13,77,787 from Siemens Financial Services Private Limited for purchasing medical equipment. These facilities were secured by a personal guarantee from Mr. Raheem Rautther Meeran, the respondent. The credit facilities were granted under finance agreements A8593817 dated 2018-01-12 and A8593814 dated 2018-05-02. The corporate debtor defaulted on repayments, and the account was declared a non-performing asset on 2019-04-12. Siemens Financial Services Private Limited invoked the guarantee and issued a demand notice to Mr. Raheem Rautther Meeran on 2022-08-09 under Section 13(2) of the SARFAESI Act, 2002. A demand notice in Form B was served on the guarantor
…Date of finance agreement A8593817 between…
Date of finance agreement A8593814 between…