The case involves an application filed by Union Bank of India (UBI) under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the insolvency resolution process against Mr. Kapil Wadhawan, a personal guarantor to the corporate debtor, DHFL (Dewan Housing Finance Corporation Ltd.). The application pertains to the recovery of Rs. 39,58,30,48,963.71/-. DHFL had availed various Term Loan Facilities and Working Capital Facilities from the Creditor. The Date of Default, as specified in Part-III of the present petition, is 23.09.2020. The Resolution Professional, Mr. Devendra Mehta, recommended the admission of the petition after considering the Resolution Plan of DHFL and the part payment received by UBI. The Respondent, Mr. Kapil Wadhawan,
…Union Bank of India (UBI) filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate insolvency resolution process against Mr. Kapil Wadhawan, who acted as a personal guarantor for Dewan Housing Finance Corporation Ltd. (DHFL). The claim amount is Rs. 39,58,30,48,963.71/-. The date of default is 23.09.2020. DHFL had availed Term Loan Facilities of INR 4009.51 Crores and Working Capital Facilities of INR 450 Crores from the Creditor. Mr. Kapil Wadhawan executed a Joint Deed of Guarantee on June 22, 2019. The Applicant Creditor issued invocation cum demand notice dated September 10, 2020, and supplementary demand notice dated September 21, 2020, to the Personal Guarantor. The Resolution Professional, Mr. Devendra Mehta, was
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Consortium Ag…
First Supplemental…
The case involves an application filed by Union Bank of India (UBI) under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the insolvency resolution process against Mr. Kapil Wadhawan, a personal guarantor to the corporate debtor, DHFL (Dewan Housing Finance Corporation Ltd.). The application pertains to the recovery of Rs. 39,58,30,48,963.71/-. DHFL had availed various Term Loan Facilities and Working Capital Facilities from the Creditor. The Date of Default, as specified in Part-III of the present petition, is 23.09.2020. The Resolution Professional, Mr. Devendra Mehta, recommended the admission of the petition after considering the Resolution Plan of DHFL and the part payment received by UBI. The Respondent, Mr. Kapil Wadhawan,
…Union Bank of India (UBI) filed an application under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate insolvency resolution process against Mr. Kapil Wadhawan, who acted as a personal guarantor for Dewan Housing Finance Corporation Ltd. (DHFL). The claim amount is Rs. 39,58,30,48,963.71/-. The date of default is 23.09.2020. DHFL had availed Term Loan Facilities of INR 4009.51 Crores and Working Capital Facilities of INR 450 Crores from the Creditor. Mr. Kapil Wadhawan executed a Joint Deed of Guarantee on June 22, 2019. The Applicant Creditor issued invocation cum demand notice dated September 10, 2020, and supplementary demand notice dated September 21, 2020, to the Personal Guarantor. The Resolution Professional, Mr. Devendra Mehta, was
…Consortium Ag…
First Supplemental…