The case pertains to an application filed by Mrs. Archana Lalit Palwe, the Personal Guarantor to Creative Powertech Private Limited, under Section 94(1) of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Insolvency Resolution Process against herself. The Corporate Debtor, Creative Powertech Pvt. Ltd., is already undergoing CIRP, admitted by NCLT, Mumbai Bench-IV under Section 9 of the Code. The Applicant extended personal guarantees for loans granted to the Corporate Debtor by various financial institutions. The Resolution Professional (RP) filed a report recommending the admission of the application under Section 94 of the Code.
Mrs. Archana Lalit Palwe, the Applicant, is the Personal Guarantor to Creative Powertech Private Limited, the Corporate Debtor. The Corporate Debtor is already undergoing CIRP, admitted by NCLT, Mumbai Bench-IV. The Applicant filed an application under Section 94(1) of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Insolvency Resolution Process against herself. The amount in default is Rs.10,86,83,115/-. The Applicant extended personal guarantees for loans granted to the Corporate Debtor by various financial institutions, including Central Bank of India, Samata Nagari Sahakari Patsanstha Maryadit, Bajaj Finance Limited, Piramal Capital and Housing Finance, L & T Finance, Indostar Capital Finance, and AU Small Finance Bank. The Resolution
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Mrs. Archana Lalit Palwe filed an application…
Creative Powertech Pvt. Ltd. was admitted…
The case pertains to an application filed by Mrs. Archana Lalit Palwe, the Personal Guarantor to Creative Powertech Private Limited, under Section 94(1) of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Insolvency Resolution Process against herself. The Corporate Debtor, Creative Powertech Pvt. Ltd., is already undergoing CIRP, admitted by NCLT, Mumbai Bench-IV under Section 9 of the Code. The Applicant extended personal guarantees for loans granted to the Corporate Debtor by various financial institutions. The Resolution Professional (RP) filed a report recommending the admission of the application under Section 94 of the Code.
Mrs. Archana Lalit Palwe, the Applicant, is the Personal Guarantor to Creative Powertech Private Limited, the Corporate Debtor. The Corporate Debtor is already undergoing CIRP, admitted by NCLT, Mumbai Bench-IV. The Applicant filed an application under Section 94(1) of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Insolvency Resolution Process against herself. The amount in default is Rs.10,86,83,115/-. The Applicant extended personal guarantees for loans granted to the Corporate Debtor by various financial institutions, including Central Bank of India, Samata Nagari Sahakari Patsanstha Maryadit, Bajaj Finance Limited, Piramal Capital and Housing Finance, L & T Finance, Indostar Capital Finance, and AU Small Finance Bank. The Resolution
…Mrs. Archana Lalit Palwe filed an application…
Creative Powertech Pvt. Ltd. was admitted…