The State Bank of India filed an application under Section 95 of the IBC, 2016 against the Personal Guarantor, Mr. K M Sebastine, seeking initiation of the Insolvency Resolution Process and appointment of a Resolution Professional. The applicant stated that the guarantee given by the applicant was invoked by issuing a loan recall cum demand notice dated 26.08.2014.
The State Bank of India filed an application under Section 95 of the IBC, 2016 against Mr. K M Sebastine, who is the Personal Guarantor. The application seeks the initiation of the Insolvency Resolution Process and the appointment of a Resolution Professional. The State Bank of India invoked the guarantee given by the applicant by issuing a loan recall cum demand notice dated 26.08.2014. Upon filing the application, an interim moratorium has commenced under Section 96(1)(a) of the IBC, 2016, in relation to all debts of the Personal Guarantor. The court appointed Shri Prabhat Ranjan Singh as the Resolution Professional.
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State Bank of India…
Order delivered by the…
The State Bank of India filed an application under Section 95 of the IBC, 2016 against the Personal Guarantor, Mr. K M Sebastine, seeking initiation of the Insolvency Resolution Process and appointment of a Resolution Professional. The applicant stated that the guarantee given by the applicant was invoked by issuing a loan recall cum demand notice dated 26.08.2014.
The State Bank of India filed an application under Section 95 of the IBC, 2016 against Mr. K M Sebastine, who is the Personal Guarantor. The application seeks the initiation of the Insolvency Resolution Process and the appointment of a Resolution Professional. The State Bank of India invoked the guarantee given by the applicant by issuing a loan recall cum demand notice dated 26.08.2014. Upon filing the application, an interim moratorium has commenced under Section 96(1)(a) of the IBC, 2016, in relation to all debts of the Personal Guarantor. The court appointed Shri Prabhat Ranjan Singh as the Resolution Professional.
State Bank of India…
Order delivered by the…