The Karur Vysya Bank Limited, as the creditor/applicant, filed an application under Section 95(1) r/w Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for IRP for Personal Guarantors to Corporate Debtor) Rules, 2019, to initiate the Insolvency Resolution Process against Smt. Pooja Malhotra, the personal guarantor/debtor, who is the guarantor of M/s Xalta Food and Beverages Private Limited, the corporate debtor. The guarantee deed was executed on 04.05.2017 by Smt. Pooja Malhotra, guaranteeing the loan granted to M/s Xalta Food and Beverages Pvt. Ltd. The loan account of the corporate debtor became a Non-Performing Asset (NPA) on 30.12.2018.
The Karur Vysya Bank Limited extended a loan to M/s Xalta Food and Beverages Private Limited, with Smt. Pooja Malhotra acting as the personal guarantor. A guarantee deed was executed on 04.05.2017. The loan account was classified as a Non-Performing Asset (NPA) on 30.12.2018. The total outstanding debt amounted to Rs. 14,91,62,709.79 as of 31.05.2021, plus interest. The applicant invoked the guarantee and issued a notice dated 13.03.2019. The applicant filed an application under Section 95(1) of the IBC, 2016, to initiate the Insolvency Resolution Process against the personal guarantor. The applicant served a notice to the personal guarantor via speed post, which was later served through newspaper publication on 30.12.2021. The applicant also served a copy of the
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The Guarantee Deed was executed and signed…
The loan account of the…
The Karur Vysya Bank Limited, as the creditor/applicant, filed an application under Section 95(1) r/w Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for IRP for Personal Guarantors to Corporate Debtor) Rules, 2019, to initiate the Insolvency Resolution Process against Smt. Pooja Malhotra, the personal guarantor/debtor, who is the guarantor of M/s Xalta Food and Beverages Private Limited, the corporate debtor. The guarantee deed was executed on 04.05.2017 by Smt. Pooja Malhotra, guaranteeing the loan granted to M/s Xalta Food and Beverages Pvt. Ltd. The loan account of the corporate debtor became a Non-Performing Asset (NPA) on 30.12.2018.
The Karur Vysya Bank Limited extended a loan to M/s Xalta Food and Beverages Private Limited, with Smt. Pooja Malhotra acting as the personal guarantor. A guarantee deed was executed on 04.05.2017. The loan account was classified as a Non-Performing Asset (NPA) on 30.12.2018. The total outstanding debt amounted to Rs. 14,91,62,709.79 as of 31.05.2021, plus interest. The applicant invoked the guarantee and issued a notice dated 13.03.2019. The applicant filed an application under Section 95(1) of the IBC, 2016, to initiate the Insolvency Resolution Process against the personal guarantor. The applicant served a notice to the personal guarantor via speed post, which was later served through newspaper publication on 30.12.2021. The applicant also served a copy of the
…The Guarantee Deed was executed and signed…
The loan account of the…