The case involves an application filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 by State Bank of India against Mr. S. Suthakar, the personal guarantor of M/s. Aqua Designs India Private Limited, the Corporate Debtor. CIRP was initiated against the Corporate Debtor on 2018-10-17, and subsequently, liquidation was ordered on 2019-12-23. The application was filed by the Financial Creditor, State Bank of India, due to a default that occurred on 2018-04-24. A demand notice was issued to the Personal Guarantor on 2021-05-28.
State Bank of India filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 against Mr. S. Suthakar, who is the personal guarantor for M/s. Aqua Designs India Private Limited. Aqua Designs India Private Limited is the Corporate Debtor. Corporate Insolvency Resolution Process (CIRP) had been initiated against the Corporate Debtor on 2018-10-17, and subsequently, the Corporate Debtor was ordered for liquidation on 2019-12-23. The date of default was 2018-04-24. A demand notice was issued to the Personal Guarantor on 2021-05-28. The agreements of guarantee executed by the Personal Guarantor are placed between pages 44-62 of the typed set filed with the application. The application was filed to initiate proceedings against the Respondent (Mr.
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Corporate Insolvency Resolution Process (CIRP)…
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 Mr. S. Suthakar, the personal guarantor of M/s. Aqua Designs India Private Limited, the Corporate Debtor. CIRP was initiated against the Corporate Debtor on 2018-10-17, and subsequently, liquidation was ordered on 2019-12-23. The application was filed by the Financial Creditor, State Bank of India, due to a default that occurred on 2018-04-24. A demand notice was issued to the Personal Guarantor on 2021-05-28.
State Bank of India filed an application under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 against Mr. S. Suthakar, who is the personal guarantor for M/s. Aqua Designs India Private Limited. Aqua Designs India Private Limited is the Corporate Debtor. Corporate Insolvency Resolution Process (CIRP) had been initiated against the Corporate Debtor on 2018-10-17, and subsequently, the Corporate Debtor was ordered for liquidation on 2019-12-23. The date of default was 2018-04-24. A demand notice was issued to the Personal Guarantor on 2021-05-28. The agreements of guarantee executed by the Personal Guarantor are placed between pages 44-62 of the typed set filed with the application. The application was filed to initiate proceedings against the Respondent (Mr.
…Corporate Insolvency Resolution Process (CIRP)…
Aqua Designs India…