The case involves a petition filed by Solapur Janata Sahakari Bank Limited (“Financial Creditor / Applicant”) under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate insolvency resolution process against Ms. Sangita Pandurang Jhinje (“Personal Guarantor / Respondent”). The petition is for the recovery of INR 13,42,12,779/- which includes principal and interest as on 30.09.2021. The date of default is specified as 31.03.2017, pertaining to a property mortgaged loan. The Corporate Debtor, Shetkari Sakhar Karkhana (Chandipur) Limited, had been sanctioned short-term security facilities by the Applicant, and the Personal Guarantor was one of the executors of the Personal Guarantee and Mortgage Deed.
Solapur Janata Sahakari Bank Limited filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, against Ms. Sangita Pandurang Jhinje, a personal guarantor, for recovery of INR 13,42,12,779/-. This amount includes a principal of INR 5,41,40,285/- and interest of INR 8,00,72,494/-, calculated as of September 30, 2021. The date of default is March 31, 2017, based on a property mortgaged loan. The Corporate Debtor, Shetkari Sakhar Karkhana (Chandipur) Limited, had been sanctioned short-term security facilities by the bank. Ms. Jhinje was an executor of the personal guarantee and mortgage deed dated September 21, 2015. A Company Petition bearing C.P. (IB) No. 1349/IBC/NCLT/MAH/2017 was filed under Section 9 of the IBC, 2016, initiating Corporate
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Shetkari Sakhar Karkhana (Chandipur) Limited…
The Personal Guarantor…
The case involves a petition filed by Solapur Janata Sahakari Bank Limited (“Financial Creditor / Applicant”) under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate insolvency resolution process against Ms. Sangita Pandurang Jhinje (“Personal Guarantor / Respondent”). The petition is for the recovery of INR 13,42,12,779/- which includes principal and interest as on 30.09.2021. The date of default is specified as 31.03.2017, pertaining to a property mortgaged loan. The Corporate Debtor, Shetkari Sakhar Karkhana (Chandipur) Limited, had been sanctioned short-term security facilities by the Applicant, and the Personal Guarantor was one of the executors of the Personal Guarantee and Mortgage Deed.
Solapur Janata Sahakari Bank Limited filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, against Ms. Sangita Pandurang Jhinje, a personal guarantor, for recovery of INR 13,42,12,779/-. This amount includes a principal of INR 5,41,40,285/- and interest of INR 8,00,72,494/-, calculated as of September 30, 2021. The date of default is March 31, 2017, based on a property mortgaged loan. The Corporate Debtor, Shetkari Sakhar Karkhana (Chandipur) Limited, had been sanctioned short-term security facilities by the bank. Ms. Jhinje was an executor of the personal guarantee and mortgage deed dated September 21, 2015. A Company Petition bearing C.P. (IB) No. 1349/IBC/NCLT/MAH/2017 was filed under Section 9 of the IBC, 2016, initiating Corporate
…Shetkari Sakhar Karkhana (Chandipur) Limited…
The Personal Guarantor…