The case involves an application filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 by State Bank of India against the personal guarantor, Mr. S. Suthakar, of M/s. Aqua Designs India Private Limited. CIRP had been initiated against the Corporate Debtor, Aqua Designs India Private Limited, vide order dated 17.10.2018, and subsequently, the Corporate Debtor was ordered for liquidation vide order dated 23.12.2019. The application was filed by the Financial Creditor, State Bank of India, due to a default date of 24.04.2018. A demand notice was issued to the Personal Guarantor on 28.05.2021.
State Bank of India filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 against Mr. S. Suthakar, the personal guarantor of M/s. Aqua Designs India Private Limited. Aqua Designs India Private Limited, the Corporate Debtor, had previously undergone Corporate Insolvency Resolution Process (CIRP) initiated on 17.10.2018 and was subsequently ordered for liquidation on 23.12.2019. The date of default stated in the application is 24.04.2018. The agreements of guarantee executed by the Personal Guarantor are placed between pages 44-62 of the filed documents. A demand notice was issued to the Personal Guarantor on 28.05.2021 under Rule 7(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process
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Corporate Insolvency Resolution Process…
Aqua Designs India…
The case involves an application filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 by State Bank of India against the personal guarantor, Mr. S. Suthakar, of M/s. Aqua Designs India Private Limited. CIRP had been initiated against the Corporate Debtor, Aqua Designs India Private Limited, vide order dated 17.10.2018, and subsequently, the Corporate Debtor was ordered for liquidation vide order dated 23.12.2019. The application was filed by the Financial Creditor, State Bank of India, due to a default date of 24.04.2018. A demand notice was issued to the Personal Guarantor on 28.05.2021.
State Bank of India filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 against Mr. S. Suthakar, the personal guarantor of M/s. Aqua Designs India Private Limited. Aqua Designs India Private Limited, the Corporate Debtor, had previously undergone Corporate Insolvency Resolution Process (CIRP) initiated on 17.10.2018 and was subsequently ordered for liquidation on 23.12.2019. The date of default stated in the application is 24.04.2018. The agreements of guarantee executed by the Personal Guarantor are placed between pages 44-62 of the filed documents. A demand notice was issued to the Personal Guarantor on 28.05.2021 under Rule 7(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process
…Corporate Insolvency Resolution Process…
Aqua Designs India…