The case pertains to a petition filed by Badveli Sreedhara Reddy (Personal Guarantor) under Section 94 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Insolvency Resolution Process. The petitioner is the personal guarantor for M/s Southern Online Biotechnologies Limited.
Badveli Sreedhara Reddy filed a petition under Section 94 of the IBC, 2016, as a personal guarantor.
The petitioner is the personal guarantor for M/s Southern Online Biotechnologies Limited.
The Corporate Debtor (Southern Online Biotechnologies Limited) underwent CIRP under CP (IB) No. 343/7/HDB/2018 and was ordered to be liquidated after the resolution plan was rejected.
The Corporate Debtor was disposed of as a 'going concern' on 22.10.2019 during the liquidation process.
The petitioner has given a personal guarantee to the Respondents vide Agreement of Pledge of shares dated 19.11.2015.
The total debt due, including interest and penalties, is Rs. 528.00 crores to the Respondents.
The default occurred on 31.12.2013 and 01.09.2018.
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The case pertains to a petition filed by Badveli Sreedhara Reddy (Personal Guarantor) under Section 94 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Insolvency Resolution Process. The petitioner is the personal guarantor for M/s Southern Online Biotechnologies Limited.
Badveli Sreedhara Reddy filed a petition under Section 94 of the IBC, 2016, as a personal guarantor.
The petitioner is the personal guarantor for M/s Southern Online Biotechnologies Limited.
The Corporate Debtor (Southern Online Biotechnologies Limited) underwent CIRP under CP (IB) No. 343/7/HDB/2018 and was ordered to be liquidated after the resolution plan was rejected.
The Corporate Debtor was disposed of as a 'going concern' on 22.10.2019 during the liquidation process.
The petitioner has given a personal guarantee to the Respondents vide Agreement of Pledge of shares dated 19.11.2015.
The total debt due, including interest and penalties, is Rs. 528.00 crores to the Respondents.
The default occurred on 31.12.2013 and 01.09.2018.
…Orders pronounced vide separate orders in…
Tribunal vide order dated 29.09.2021 has granted…