The case involves an application filed by Stressed Assets Stabilization Fund (Financial Creditor) 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 Insolvency Resolution Process against Uma Aggarwal, the Personal Guarantor of Kumar's Metallurgical Corp. Ltd. 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, Uma Aggarwal and others stood as guarantors and executed guarantee agreements.
Stressed Assets Stabilization Fund (Financial Creditor) filed an application 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 Insolvency Resolution Process against Uma Aggarwal, the Personal Guarantor of Kumar's Metallurgical Corp. Ltd (Corporate Debtor). The Corporate Debtor had availed various term loans from the Financial Creditor and its associate banks, IFCI Limited and ICICI Bank. 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,
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Smt Uma Aggarwal, Shri Anil Kumar Aggarwal,…
Smt Uma Aggarwal, Shri Anil Kumar Aggarwal,…
The case involves an application filed by Stressed Assets Stabilization Fund (Financial Creditor) 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 Insolvency Resolution Process against Uma Aggarwal, the Personal Guarantor of Kumar's Metallurgical Corp. Ltd. 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, Uma Aggarwal and others stood as guarantors and executed guarantee agreements.
Stressed Assets Stabilization Fund (Financial Creditor) filed an application 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 Insolvency Resolution Process against Uma Aggarwal, the Personal Guarantor of Kumar's Metallurgical Corp. Ltd (Corporate Debtor). The Corporate Debtor had availed various term loans from the Financial Creditor and its associate banks, IFCI Limited and ICICI Bank. 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,
…Smt Uma Aggarwal, Shri Anil Kumar Aggarwal,…
Smt Uma Aggarwal, Shri Anil Kumar Aggarwal,…