The case involves applications filed by Siemens Financial Services Private Limited under Section 95(1) 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, against Mr. C.V. Paulson and Mrs. Smitha Ajith, who are personal guarantors to the Corporate Debtor, Ceevees Imaging and Healthcare Research Private Limited. The corporate debtor availed credit facilities from Siemens Financial Services Private Limited, defaulted on payments, and the creditor invoked the personal guarantees. The respondents argued that no CIRP or liquidation proceedings were pending against the corporate debtor, which they
…Siemens Financial Services Private Limited (the Creditor) filed applications under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 (IBC) against Mr. C.V. Paulson and Mrs. Smitha Ajith (the Respondents), who are personal guarantors to Ceevees Imaging and Healthcare Research Private Limited (the Corporate Debtor). The Corporate Debtor availed credit facilities of Rs. 4,86,00,000/- from the Creditor for the purchase of Siemens refurbished Biograph 6 Tru Point Eco + First Syngo MM workplace. The loan agreement was executed on 24.11.2016, with a repayment period of 66 months. The Respondents executed personal guarantees to the Corporate Debtor with a guarantee agreement on 24.11.2016. The accounts of the Corporate Debtor became Non-Performing Assets (NPA) on
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Sanction lette…
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The case involves applications filed by Siemens Financial Services Private Limited under Section 95(1) 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, against Mr. C.V. Paulson and Mrs. Smitha Ajith, who are personal guarantors to the Corporate Debtor, Ceevees Imaging and Healthcare Research Private Limited. The corporate debtor availed credit facilities from Siemens Financial Services Private Limited, defaulted on payments, and the creditor invoked the personal guarantees. The respondents argued that no CIRP or liquidation proceedings were pending against the corporate debtor, which they
…Siemens Financial Services Private Limited (the Creditor) filed applications under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 (IBC) against Mr. C.V. Paulson and Mrs. Smitha Ajith (the Respondents), who are personal guarantors to Ceevees Imaging and Healthcare Research Private Limited (the Corporate Debtor). The Corporate Debtor availed credit facilities of Rs. 4,86,00,000/- from the Creditor for the purchase of Siemens refurbished Biograph 6 Tru Point Eco + First Syngo MM workplace. The loan agreement was executed on 24.11.2016, with a repayment period of 66 months. The Respondents executed personal guarantees to the Corporate Debtor with a guarantee agreement on 24.11.2016. The accounts of the Corporate Debtor became Non-Performing Assets (NPA) on
…Sanction lette…
Loan agreement executed…