The State Bank of India, as the financial creditor, filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, to initiate the Insolvency Resolution Process against Mr. Akash Goyal, the personal guarantor, in respect of debt disbursed to M/s. Kay Em Copper Pvt. Ltd., the corporate debtor. The application was filed through Resolution Professional Mr. Madan Mohan Dhupar.
State Bank of India (SBI) filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Insolvency Resolution Process (IRP) against Mr. Akash Goyal, a personal guarantor to the corporate debtor, M/s. Kay Em Copper Pvt. Ltd. The application was filed through Resolution Professional Mr. Madan Mohan Dhupar. SBI had sanctioned and disbursed various loans to M/s. Kay Em Copper Pvt. Ltd., for which Mr. Akash Goyal stood as a personal guarantor, as evidenced by a Deed of Guarantee dated 04.04.2016 and 02.06.2017. The corporate debtor defaulted on repayments, leading to the loan account being classified as a Non-Performing Asset (NPA) on 12.02.2019. A notice under Section 13(2) of the SARFAESI Act, 2002, was issued to the corporate
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M/s. Kay Em Cop…
The loan account of the…
The State Bank of India, as the financial creditor, filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, to initiate the Insolvency Resolution Process against Mr. Akash Goyal, the personal guarantor, in respect of debt disbursed to M/s. Kay Em Copper Pvt. Ltd., the corporate debtor. The application was filed through Resolution Professional Mr. Madan Mohan Dhupar.
State Bank of India (SBI) filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Insolvency Resolution Process (IRP) against Mr. Akash Goyal, a personal guarantor to the corporate debtor, M/s. Kay Em Copper Pvt. Ltd. The application was filed through Resolution Professional Mr. Madan Mohan Dhupar. SBI had sanctioned and disbursed various loans to M/s. Kay Em Copper Pvt. Ltd., for which Mr. Akash Goyal stood as a personal guarantor, as evidenced by a Deed of Guarantee dated 04.04.2016 and 02.06.2017. The corporate debtor defaulted on repayments, leading to the loan account being classified as a Non-Performing Asset (NPA) on 12.02.2019. A notice under Section 13(2) of the SARFAESI Act, 2002, was issued to the corporate
…M/s. Kay Em Cop…
The loan account of the…