The case pertains to a petition filed by M/s. Stressed Assets Stabilization Fund (SASF) under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Insolvency Resolution Process (IR Process) against Sri. N H Siva Mohan Reddy, the Personal Guarantor of M/s. Vishnupriya Industries Limited (In Liquidation). The Corporate Debtor had availed various Financial Assistance from the Financial Creditor and its Associate Banks. The Personal Guarantor stood as a guarantor under different loan documents. The Corporate Debtor defaulted on payments, leading the Financial Creditor to file an O.A before Hon'ble DRT, which directed the corporate debtor and the guarantors to pay the amount within 30 days. Subsequently, Hon'ble Recovery officers issued
…M/s. Stressed Assets Stabilization Fund (SASF) filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Sri. N H Siva Mohan Reddy, the Personal Guarantor of M/s. Vishnupriya Industries Limited (In Liquidation). Vishnupriya Industries Limited, the Corporate Debtor, availed financial assistance from SASF and its associate banks. Sri. N H Siva Mohan Reddy and Shri R Nagi Reddy stood as guarantors, with guarantee agreements dated 15.09.1999 and 24.09.1997. The Financial Creditors issued Loan Recall letters to the Corporate Debtor and Personal Guarantors. The Corporate Debtor defaulted on payments. SASF filed an O.A before Hon'ble DRT, which directed the Corporate Debtor and guarantors to pay the
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Guarantee Agr…
Sanction Letter issued…
The case pertains to a petition filed by M/s. Stressed Assets Stabilization Fund (SASF) under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Insolvency Resolution Process (IR Process) against Sri. N H Siva Mohan Reddy, the Personal Guarantor of M/s. Vishnupriya Industries Limited (In Liquidation). The Corporate Debtor had availed various Financial Assistance from the Financial Creditor and its Associate Banks. The Personal Guarantor stood as a guarantor under different loan documents. The Corporate Debtor defaulted on payments, leading the Financial Creditor to file an O.A before Hon'ble DRT, which directed the corporate debtor and the guarantors to pay the amount within 30 days. Subsequently, Hon'ble Recovery officers issued
…M/s. Stressed Assets Stabilization Fund (SASF) filed a petition under Section 95(1) of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Sri. N H Siva Mohan Reddy, the Personal Guarantor of M/s. Vishnupriya Industries Limited (In Liquidation). Vishnupriya Industries Limited, the Corporate Debtor, availed financial assistance from SASF and its associate banks. Sri. N H Siva Mohan Reddy and Shri R Nagi Reddy stood as guarantors, with guarantee agreements dated 15.09.1999 and 24.09.1997. The Financial Creditors issued Loan Recall letters to the Corporate Debtor and Personal Guarantors. The Corporate Debtor defaulted on payments. SASF filed an O.A before Hon'ble DRT, which directed the Corporate Debtor and guarantors to pay the
…Guarantee Agr…
Sanction Letter issued…