The case involves an application filed by State Bank of India ('Financial Creditor') under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Mr. T. Jayananth ('Personal Guarantor'). The application pertains to a default on a principal amount of INR 100,67,49,653.20 together with interest, for loans availed by M/s. Titanium Tantalum Products Limited ('Corporate Debtor'), for which Mr. T. Jayananth acted as a personal guarantor. The Corporate Debtor is currently under liquidation. The date of default was specified as 29.12.2018. The Financial Creditor initiated SARFAESI proceedings and recovered a portion of the debt. The Resolution Professional (RP) was appointed and recommended the admission of the application.
State Bank of India, the Financial Creditor, filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, against T. Jayananth, the Personal Guarantor, for a default on a principal amount of INR 100,67,49,653.20 plus interest. The default pertains to loans availed by M/s. Titanium Tantalum Products Limited, the Corporate Debtor, for which T. Jayananth acted as a personal guarantor. The date of default was 29.12.2018. The Corporate Debtor is currently under liquidation. The Financial Creditor had granted various credit facilities to the Corporate Debtor, secured by guarantees from T. Jeyanath, S/o Thangappan, Kamala Thangappan, W/o R. Thangappan and T.Jeyamohan, S/o R. Thangappan. The guarantors executed letters confirming the deposit of title
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The date of default is reckoned as 29.12.2018,…
The present p…
The case involves an application filed by State Bank of India ('Financial Creditor') under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Mr. T. Jayananth ('Personal Guarantor'). The application pertains to a default on a principal amount of INR 100,67,49,653.20 together with interest, for loans availed by M/s. Titanium Tantalum Products Limited ('Corporate Debtor'), for which Mr. T. Jayananth acted as a personal guarantor. The Corporate Debtor is currently under liquidation. The date of default was specified as 29.12.2018. The Financial Creditor initiated SARFAESI proceedings and recovered a portion of the debt. The Resolution Professional (RP) was appointed and recommended the admission of the application.
State Bank of India, the Financial Creditor, filed an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, against T. Jayananth, the Personal Guarantor, for a default on a principal amount of INR 100,67,49,653.20 plus interest. The default pertains to loans availed by M/s. Titanium Tantalum Products Limited, the Corporate Debtor, for which T. Jayananth acted as a personal guarantor. The date of default was 29.12.2018. The Corporate Debtor is currently under liquidation. The Financial Creditor had granted various credit facilities to the Corporate Debtor, secured by guarantees from T. Jeyanath, S/o Thangappan, Kamala Thangappan, W/o R. Thangappan and T.Jeyamohan, S/o R. Thangappan. The guarantors executed letters confirming the deposit of title
…The date of default is reckoned as 29.12.2018,…
The present p…