The case involves a petition 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. The Financial Creditor is seeking an order for the initiation of the Insolvency Resolution Process against Smt. Uma Aggarwal, who is 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. To secure the repayment of the Financial Assistance, Smt Uma Aggarwal and others stood as guarantors and executed Guarantee Agreements.
Stressed Assets Stabilization Fund (Financial Creditor) filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Insolvency Resolution Process against Smt. Uma Aggarwal, the Personal Guarantor of M/S. Kumar's Metallurgical Corporation Limited (Corporate Debtor). The Corporate Debtor had availed Term Loans from the Financial Creditor and its Associate Banks. Smt Uma Aggarwal and others stood as guarantors and executed Guarantee Agreements to secure the repayment of the Financial Assistance. The Corporate Debtor defaulted on its financial obligations. The Financial Creditor issued a Loan Recall Letter and Demand Notice to the Corporate Debtor and Personal Guarantor. The Financial Creditor filed Original Applications before
…Sign in to view the parties.
Smt Uma Aggarwal and…
Smt Uma Aggarwal and…
The case involves a petition 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. The Financial Creditor is seeking an order for the initiation of the Insolvency Resolution Process against Smt. Uma Aggarwal, who is 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. To secure the repayment of the Financial Assistance, Smt Uma Aggarwal and others stood as guarantors and executed Guarantee Agreements.
Stressed Assets Stabilization Fund (Financial Creditor) filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Insolvency Resolution Process against Smt. Uma Aggarwal, the Personal Guarantor of M/S. Kumar's Metallurgical Corporation Limited (Corporate Debtor). The Corporate Debtor had availed Term Loans from the Financial Creditor and its Associate Banks. Smt Uma Aggarwal and others stood as guarantors and executed Guarantee Agreements to secure the repayment of the Financial Assistance. The Corporate Debtor defaulted on its financial obligations. The Financial Creditor issued a Loan Recall Letter and Demand Notice to the Corporate Debtor and Personal Guarantor. The Financial Creditor filed Original Applications before
…Smt Uma Aggarwal and…
Smt Uma Aggarwal and…