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. The applicant, Suman Soni, is the personal guarantor for G.P. Cottfab Pvt. Ltd. ('Corporate Debtor'). A loan was advanced to the Corporate Debtor by Punjab National Bank, Bhopalganj, Bhilwara, for which Suman Soni acted as a guarantor. The Corporate Debtor defaulted on the loan repayment, leading to the invocation of the personal guarantee. An application under Section 9 of the Code seeking CIRP against the Corporate Debtor was admitted on 12.09.2019. Subsequently, the CoC resolved to
…Suman Soni acted as a personal guarantor for G.P. Cottfab Pvt. Ltd. ('Corporate Debtor') for a loan advanced by Punjab National Bank. The Corporate Debtor defaulted on the loan repayment. Suman Soni received a notice dated 19.12.2018 under section 13(2) of the SARFAESI Act, 2002, from Punjab National Bank, Bhopal Ganj, Bhilwara Branch, invoking the personal guarantee. An application under Section 9 of the Code seeking CIRP against the Corporate Debtor was admitted on 12.09.2019. The Committee of Creditors ('CoC') resolved to liquidate the Corporate Debtor. An order dated 02.03.2021 directed the Corporate Debtor to be liquidated. The amount of default is Rs. 20,73,96,097.00, with the date of default as 11.12.2018. Suman Soni filed an application under Section 94(1) of
…Sign in to view the parties.
Agreement of Guarantee dated 16.12.2017…
Applicant received a notice dated 19.12.2018…
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. The applicant, Suman Soni, is the personal guarantor for G.P. Cottfab Pvt. Ltd. ('Corporate Debtor'). A loan was advanced to the Corporate Debtor by Punjab National Bank, Bhopalganj, Bhilwara, for which Suman Soni acted as a guarantor. The Corporate Debtor defaulted on the loan repayment, leading to the invocation of the personal guarantee. An application under Section 9 of the Code seeking CIRP against the Corporate Debtor was admitted on 12.09.2019. Subsequently, the CoC resolved to
…Suman Soni acted as a personal guarantor for G.P. Cottfab Pvt. Ltd. ('Corporate Debtor') for a loan advanced by Punjab National Bank. The Corporate Debtor defaulted on the loan repayment. Suman Soni received a notice dated 19.12.2018 under section 13(2) of the SARFAESI Act, 2002, from Punjab National Bank, Bhopal Ganj, Bhilwara Branch, invoking the personal guarantee. An application under Section 9 of the Code seeking CIRP against the Corporate Debtor was admitted on 12.09.2019. The Committee of Creditors ('CoC') resolved to liquidate the Corporate Debtor. An order dated 02.03.2021 directed the Corporate Debtor to be liquidated. The amount of default is Rs. 20,73,96,097.00, with the date of default as 11.12.2018. Suman Soni filed an application under Section 94(1) of
…Agreement of Guarantee dated 16.12.2017…
Applicant received a notice dated 19.12.2018…