The case pertains to an application filed under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, by Shri Subhash Chander Mishra, a personal guarantor to M/s Niroz Insulations Pvt. Ltd. and M/s Triveni Agrotraders Pvt. Ltd. The application seeks to initiate the insolvency resolution process for the personal guarantor.
Shri Subhash Chander Mishra, a personal guarantor for M/s Niroz Insulations Pvt. Ltd. and M/s Triveni Agrotraders Pvt. Ltd., filed an application under Section 94(1) of the Insolvency and Bankruptcy Code, 2016. A loan was advanced to the Corporate Debtor by State Bank of India. The Financial Creditor published a demand notice under Section 13(2) of the SARFAESI Act, 2002, on 2021-05-24, following the Corporate Debtor's default. The applicant failed to fulfill his obligations pursuant to the personal guarantee within 60 days of the notice. The Corporate Debtor itself filed an application under Section 10 of IBC, 2016. The total amount of default mentioned by the applicant is Rs. 5,35,53,097/-. The application is in respect of debts which are not excluded under Section
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Financial Creditor published a demand notice…
Date of filing of the instant Application by…
The case pertains to an application filed under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, by Shri Subhash Chander Mishra, a personal guarantor to M/s Niroz Insulations Pvt. Ltd. and M/s Triveni Agrotraders Pvt. Ltd. The application seeks to initiate the insolvency resolution process for the personal guarantor.
Shri Subhash Chander Mishra, a personal guarantor for M/s Niroz Insulations Pvt. Ltd. and M/s Triveni Agrotraders Pvt. Ltd., filed an application under Section 94(1) of the Insolvency and Bankruptcy Code, 2016. A loan was advanced to the Corporate Debtor by State Bank of India. The Financial Creditor published a demand notice under Section 13(2) of the SARFAESI Act, 2002, on 2021-05-24, following the Corporate Debtor's default. The applicant failed to fulfill his obligations pursuant to the personal guarantee within 60 days of the notice. The Corporate Debtor itself filed an application under Section 10 of IBC, 2016. The total amount of default mentioned by the applicant is Rs. 5,35,53,097/-. The application is in respect of debts which are not excluded under Section
…Financial Creditor published a demand notice…
Date of filing of the instant Application by…