The case involves an application filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, by State Bank of India against Smt. Savita Lohariwal, a personal guarantor to Hanumanta Engineering Private Ltd. (HEPL). HEPL had approached the applicant for various credit facilities, which were extended from time to time. The personal guarantor had executed a guarantee on 30/08/2011 to secure the repayment of these facilities. Due to defaults by HEPL, the loan accounts were classified as NPA on 06/08/2012. The financial creditor invoked the personal guarantee on 10/01/2013 and
…State Bank of India (SBI) extended credit facilities to Hanumanta Engineering Private Ltd. (HEPL), with Smt. Savita Lohariwal acting as the personal guarantor. A deed of guarantee was executed on 30/08/2011 by the personal guarantor to secure the repayment of the credit facilities. HEPL defaulted on payments, leading to the loan accounts being classified as Non-Performing Assets (NPA) on 06/08/2012. SBI invoked the personal guarantee on 10/01/2013, demanding Rs. 75,74,16,762.00. HEPL was admitted into Corporate Insolvency Resolution Process (CIRP) on 19/08/2019, and subsequently, a liquidation order was passed on 20/02/2020, due to the absence of a feasible resolution. SBI filed an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016, to
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Smt. Savita Lohariwal executed a personal…
The loan accounts of Hanumanta Engineering…
The case involves an application filed under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, by State Bank of India against Smt. Savita Lohariwal, a personal guarantor to Hanumanta Engineering Private Ltd. (HEPL). HEPL had approached the applicant for various credit facilities, which were extended from time to time. The personal guarantor had executed a guarantee on 30/08/2011 to secure the repayment of these facilities. Due to defaults by HEPL, the loan accounts were classified as NPA on 06/08/2012. The financial creditor invoked the personal guarantee on 10/01/2013 and
…State Bank of India (SBI) extended credit facilities to Hanumanta Engineering Private Ltd. (HEPL), with Smt. Savita Lohariwal acting as the personal guarantor. A deed of guarantee was executed on 30/08/2011 by the personal guarantor to secure the repayment of the credit facilities. HEPL defaulted on payments, leading to the loan accounts being classified as Non-Performing Assets (NPA) on 06/08/2012. SBI invoked the personal guarantee on 10/01/2013, demanding Rs. 75,74,16,762.00. HEPL was admitted into Corporate Insolvency Resolution Process (CIRP) on 19/08/2019, and subsequently, a liquidation order was passed on 20/02/2020, due to the absence of a feasible resolution. SBI filed an application under Section 95(1) of the Insolvency and Bankruptcy Code (IBC), 2016, to
…Smt. Savita Lohariwal executed a personal…
The loan accounts of Hanumanta Engineering…