The case involves an application filed by a creditor, State Bank of India, against Mr. Ram Prakash Pandey, the personal guarantor of M/s Sri Balaji Logs Products Private Limited (Corporate Debtor), under Section 95(1) of the Insolvency and Bankruptcy Code, 2016. The application seeks to initiate the Insolvency Resolution Process due to a default of ₹135.21 Crore. A statutory notice of demand was served to the personal guarantor on 09.11.2021, requesting payment, but no payment was made despite receipt of the notice on 11.11.2021.
State Bank of India filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Mr. Ram Prakash Pandey, who is the personal guarantor for M/s Sri Balaji Logs Products Private Limited (Corporate Debtor). The application was filed due to a default of ₹135.21 Crore. A statutory notice of demand was served to Mr. Pandey on 09.11.2021, requesting payment. Despite receiving the notice on 11.11.2021, Mr. Pandey failed to make any payment. The creditor, State Bank of India, then filed a petition seeking the initiation of the insolvency resolution process against the personal guarantor. The interim moratorium commenced from 11.12.2021.
Sign in to view the parties.
A statutory notice of demand was served to Mr.…
Mr. Ram Prakash Pandey…
The case involves an application filed by a creditor, State Bank of India, against Mr. Ram Prakash Pandey, the personal guarantor of M/s Sri Balaji Logs Products Private Limited (Corporate Debtor), under Section 95(1) of the Insolvency and Bankruptcy Code, 2016. The application seeks to initiate the Insolvency Resolution Process due to a default of ₹135.21 Crore. A statutory notice of demand was served to the personal guarantor on 09.11.2021, requesting payment, but no payment was made despite receipt of the notice on 11.11.2021.
State Bank of India filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, against Mr. Ram Prakash Pandey, who is the personal guarantor for M/s Sri Balaji Logs Products Private Limited (Corporate Debtor). The application was filed due to a default of ₹135.21 Crore. A statutory notice of demand was served to Mr. Pandey on 09.11.2021, requesting payment. Despite receiving the notice on 11.11.2021, Mr. Pandey failed to make any payment. The creditor, State Bank of India, then filed a petition seeking the initiation of the insolvency resolution process against the personal guarantor. The interim moratorium commenced from 11.12.2021.
A statutory notice of demand was served to Mr.…
Mr. Ram Prakash Pandey…