The case involves a Company Petition filed by Solapur Janata Sahakari Bank Limited ("Financial Creditor") under Section 95 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 Guarantor to Corporate Debtors) Rules, 2019. The petition seeks to initiate a Personal Insolvency Resolution Process against Ms. Ashwini Savkar Waghmode, the Personal Guarantor, of M/s Shetkari Sakhar Karkhana (Chandrapuri) Limited, the Corporate Debtor. The Corporate Debtor is already admitted into CIRP vide order dated 14.01.2019.
Solapur Janata Sahakari Bank Limited, the Financial Creditor, filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate a Personal Insolvency Resolution Process against Ms. Ashwini Savkar Waghmode, the Personal Guarantor of M/s Shetkari Sakhar Karkhana (Chandrapuri) Limited, the Corporate Debtor. The Corporate Debtor was already admitted into CIRP vide order dated 14.01.2019. The Financial Creditor served a Demand Notice to the Personal Guarantor of the Corporate Debtor on 03.01.2022, after successfully delivering the notice on 20.12.2021. The petition was deemed complete under Section 95 of the Code. The relevance of these facts lies in establishing the grounds for initiating the insolvency resolution process against the
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M/s Shetkari Sakhar Karkhana (Chandrapuri)…
Demand Notice dated 20.12.2021 was…
The case involves a Company Petition filed by Solapur Janata Sahakari Bank Limited ("Financial Creditor") under Section 95 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 Guarantor to Corporate Debtors) Rules, 2019. The petition seeks to initiate a Personal Insolvency Resolution Process against Ms. Ashwini Savkar Waghmode, the Personal Guarantor, of M/s Shetkari Sakhar Karkhana (Chandrapuri) Limited, the Corporate Debtor. The Corporate Debtor is already admitted into CIRP vide order dated 14.01.2019.
Solapur Janata Sahakari Bank Limited, the Financial Creditor, filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate a Personal Insolvency Resolution Process against Ms. Ashwini Savkar Waghmode, the Personal Guarantor of M/s Shetkari Sakhar Karkhana (Chandrapuri) Limited, the Corporate Debtor. The Corporate Debtor was already admitted into CIRP vide order dated 14.01.2019. The Financial Creditor served a Demand Notice to the Personal Guarantor of the Corporate Debtor on 03.01.2022, after successfully delivering the notice on 20.12.2021. The petition was deemed complete under Section 95 of the Code. The relevance of these facts lies in establishing the grounds for initiating the insolvency resolution process against the
…M/s Shetkari Sakhar Karkhana (Chandrapuri)…
Demand Notice dated 20.12.2021 was…