The Stressed Assets Stabilization Fund (Financial Creditor) filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency & Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, seeking initiation of the Insolvency Resolution Process against Sri. Anil Kumar Aggarwal, the Personal Guarantor of Kumar's Metallurgical Corp. Ltd. The Corporate Debtor had availed various types of term loans from the Financial Creditor and its Associate Banks, namely IFCI Limited and ICICI Bank, under different loan documents. To secure the repayment of the financial assistance, Smt Uma Aggarwal, Shri Anil Kumar Aggarwal, (Late) Shri Satish Kumar
…The Stressed Assets Stabilization Fund, the Financial Creditor, filed a Company Petition (IB/194/2022) under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, against Anil Kumar Aggarwal, the Personal Guarantor of M/S. Kumar's Metallurgical Corporation Limited, the Corporate Debtor. The Corporate Debtor had availed various term loans from the Financial Creditor and its associate banks, IFCI Limited and ICICI Bank. To secure the repayment of the financial assistance, Smt Uma Aggarwal, Shri Anil Kumar Aggarwal, (Late) Shri Satish Kumar Aggarwal and Smt Uma Aggarwal stood as guarantors and executed guarantee agreements dated 05.02.1991, 10.10.1992, 05.06.1993, 30.10.1993 and 30.10.1995. The Financial Creditors issued a Loan Recall Letter dated 05.09.2001,
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The Stressed Assets Stabilization Fund (Financial Creditor) filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency & Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, seeking initiation of the Insolvency Resolution Process against Sri. Anil Kumar Aggarwal, the Personal Guarantor of Kumar's Metallurgical Corp. Ltd. The Corporate Debtor had availed various types of term loans from the Financial Creditor and its Associate Banks, namely IFCI Limited and ICICI Bank, under different loan documents. To secure the repayment of the financial assistance, Smt Uma Aggarwal, Shri Anil Kumar Aggarwal, (Late) Shri Satish Kumar
…The Stressed Assets Stabilization Fund, the Financial Creditor, filed a Company Petition (IB/194/2022) under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, against Anil Kumar Aggarwal, the Personal Guarantor of M/S. Kumar's Metallurgical Corporation Limited, the Corporate Debtor. The Corporate Debtor had availed various term loans from the Financial Creditor and its associate banks, IFCI Limited and ICICI Bank. To secure the repayment of the financial assistance, Smt Uma Aggarwal, Shri Anil Kumar Aggarwal, (Late) Shri Satish Kumar Aggarwal and Smt Uma Aggarwal stood as guarantors and executed guarantee agreements dated 05.02.1991, 10.10.1992, 05.06.1993, 30.10.1993 and 30.10.1995. The Financial Creditors issued a Loan Recall Letter dated 05.09.2001,
…Guarantee Agr…
Guarantee Agr…