The case involves an application under Section 112 of the Insolvency and Bankruptcy Code, 2016, filed by the Resolution Professional (RP) seeking to record the report of the creditors' meeting regarding the repayment plan of the Personal Guarantor, Savita Lohariwal. State Bank of India (SBI), the Financial Creditor, had initiated insolvency proceedings against the Personal Guarantor under Section 95 of the IBC, 2016, due to her being a guarantor for Hanumanta Engineering Pvt Ltd., which is under liquidation. The RP submitted a report recommending the admission of the application, and the Tribunal admitted the Personal Guarantor into insolvency. The Personal Guarantor submitted a repayment plan proposing a repayment of Rs. 1 lakh, which SBI rejected, deeming it
…On September 28, 2021, State Bank of India (SBI), the Financial Creditor, initiated insolvency proceedings against Savita Lohariwal, the Personal Guarantor, under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. Savita Lohariwal acted as the personal guarantor for Hanumanta Engineering Pvt Ltd., the principal borrower, which is currently under liquidation. Daulat Ram Jain was appointed as the Resolution Professional (RP) on May 09, 2022. The RP submitted a report on May 20, 2022, recommending the admission of the application. The Tribunal admitted the Personal Guarantor into insolvency on July 08, 2024. A public notice was issued on July 09, 2024, inviting claims from creditors. SBI submitted a claim with 100% voting rights. The Personal Guarantor
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State Bank of India filed an application…
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The case involves an application under Section 112 of the Insolvency and Bankruptcy Code, 2016, filed by the Resolution Professional (RP) seeking to record the report of the creditors' meeting regarding the repayment plan of the Personal Guarantor, Savita Lohariwal. State Bank of India (SBI), the Financial Creditor, had initiated insolvency proceedings against the Personal Guarantor under Section 95 of the IBC, 2016, due to her being a guarantor for Hanumanta Engineering Pvt Ltd., which is under liquidation. The RP submitted a report recommending the admission of the application, and the Tribunal admitted the Personal Guarantor into insolvency. The Personal Guarantor submitted a repayment plan proposing a repayment of Rs. 1 lakh, which SBI rejected, deeming it
…On September 28, 2021, State Bank of India (SBI), the Financial Creditor, initiated insolvency proceedings against Savita Lohariwal, the Personal Guarantor, under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. Savita Lohariwal acted as the personal guarantor for Hanumanta Engineering Pvt Ltd., the principal borrower, which is currently under liquidation. Daulat Ram Jain was appointed as the Resolution Professional (RP) on May 09, 2022. The RP submitted a report on May 20, 2022, recommending the admission of the application. The Tribunal admitted the Personal Guarantor into insolvency on July 08, 2024. A public notice was issued on July 09, 2024, inviting claims from creditors. SBI submitted a claim with 100% voting rights. The Personal Guarantor
…State Bank of India filed an application…
Daulat Ram Jain was…