This case involves an application (IA 154/2023) filed by State Bank of India (SBI) in CP IB 425/2022, seeking an order to restrain Bank of Baroda (Respondent No. 1) from proceeding with an E-Auction notice dated 20.11.2022. The notice was issued under the Security Interest (Enforcement) Rules, 2002, concerning the property of personal guarantors. SBI also sought a declaration that the notice is void and illegal. The sale notice pertained to the properties of Mr. Vinod Kumar Mohota, a personal guarantor, related to credit facilities availed by M/s. Navrang Enterprises from Bank of Baroda. SBI informed Bank of Baroda that an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, had been filed against Mr. Mohota for personal insolvency, triggering a
…State Bank of India (SBI) filed an application (IA 154/2023) in CP IB 425/2022 seeking to restrain Bank of Baroda (BOB) from proceeding with an E-Auction notice dated 20.11.2022 concerning the property of Mr. Vinod Kumar Mohota, a personal guarantor for credit facilities availed by M/s. Navrang Enterprises from BOB. SBI informed BOB that an application under Section 95 of the Insolvency and Bankruptcy Code (IBC) had been filed against Mr. Mohota on 04.03.2022, triggering an interim moratorium. Despite this, BOB proceeded with the auction. The sale notice for the properties of the Personal Guarantors i.e. Mr. Vinod Kumar Mohota in relation to the Credit facilities availed by M/s. Navrang Enterprises from Bank of Baroda was published in the newspaper on 20.11.2022 and
…Sign in to view the parties.
Application under Section 95 of the Insolvency…
Bank of Baroda took symbolic possession of…
This case involves an application (IA 154/2023) filed by State Bank of India (SBI) in CP IB 425/2022, seeking an order to restrain Bank of Baroda (Respondent No. 1) from proceeding with an E-Auction notice dated 20.11.2022. The notice was issued under the Security Interest (Enforcement) Rules, 2002, concerning the property of personal guarantors. SBI also sought a declaration that the notice is void and illegal. The sale notice pertained to the properties of Mr. Vinod Kumar Mohota, a personal guarantor, related to credit facilities availed by M/s. Navrang Enterprises from Bank of Baroda. SBI informed Bank of Baroda that an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, had been filed against Mr. Mohota for personal insolvency, triggering a
…State Bank of India (SBI) filed an application (IA 154/2023) in CP IB 425/2022 seeking to restrain Bank of Baroda (BOB) from proceeding with an E-Auction notice dated 20.11.2022 concerning the property of Mr. Vinod Kumar Mohota, a personal guarantor for credit facilities availed by M/s. Navrang Enterprises from BOB. SBI informed BOB that an application under Section 95 of the Insolvency and Bankruptcy Code (IBC) had been filed against Mr. Mohota on 04.03.2022, triggering an interim moratorium. Despite this, BOB proceeded with the auction. The sale notice for the properties of the Personal Guarantors i.e. Mr. Vinod Kumar Mohota in relation to the Credit facilities availed by M/s. Navrang Enterprises from Bank of Baroda was published in the newspaper on 20.11.2022 and
…Application under Section 95 of the Insolvency…
Bank of Baroda took symbolic possession of…