The State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC) seeking the initiation of the Interim Resolution Process against Shri Shivratan Chandak, the personal guarantor of the corporate debtor, M/s Maximum Synthetics Private Limited, for a default amount of Rs. 34,78,76,322. The Resolution Professional (RP), Ms. Reshma Mittal, was appointed to file a report under Section 99 of the IBC. The RP submitted a report recommending the admission of the application, stating that the personal guarantor had defaulted on repayment, the application was duly filed, and a demand notice was served but no payment was received. The personal guarantor was not traceable despite attempts, leading to a public notice being issued.
State Bank of India (SBI) filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC) to initiate the Interim Resolution Process (IRP) against Shri Shivratan Chandak, the personal guarantor of M/s Maximum Synthetics Private Limited. The default amount was Rs. 34,78,76,322. Ms. Reshma Mittal was appointed as the Resolution Professional (RP). The RP filed a report under Section 99 of the IBC, recommending the admission of the application. The RP's report stated that the personal guarantor defaulted on repayment, the application was duly filed in Form A with the requisite fee, and a demand notice was served under Section 95(4)(b) of the Code. The RP attempted to serve notices to the personal guarantor via postal service and email, but received no
…Sign in to view the parties.
Ms. Reshma Mittal was…
The RP issued…
The State Bank of India filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC) seeking the initiation of the Interim Resolution Process against Shri Shivratan Chandak, the personal guarantor of the corporate debtor, M/s Maximum Synthetics Private Limited, for a default amount of Rs. 34,78,76,322. The Resolution Professional (RP), Ms. Reshma Mittal, was appointed to file a report under Section 99 of the IBC. The RP submitted a report recommending the admission of the application, stating that the personal guarantor had defaulted on repayment, the application was duly filed, and a demand notice was served but no payment was received. The personal guarantor was not traceable despite attempts, leading to a public notice being issued.
State Bank of India (SBI) filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC) to initiate the Interim Resolution Process (IRP) against Shri Shivratan Chandak, the personal guarantor of M/s Maximum Synthetics Private Limited. The default amount was Rs. 34,78,76,322. Ms. Reshma Mittal was appointed as the Resolution Professional (RP). The RP filed a report under Section 99 of the IBC, recommending the admission of the application. The RP's report stated that the personal guarantor defaulted on repayment, the application was duly filed in Form A with the requisite fee, and a demand notice was served under Section 95(4)(b) of the Code. The RP attempted to serve notices to the personal guarantor via postal service and email, but received no
…Ms. Reshma Mittal was…
The RP issued…