State Bank of India filed a petition under Section 95 of the IBC, seeking initiation of Personal Insolvency Resolution Process (PIRP) against Sri Kalvakuntla Suhan Rao, the Personal Guarantor of M/s Pioneer Gas Power Limited, the Corporate Debtor.
State Bank of India (Financial Creditor) filed a petition under Section 95 of the IBC against Sri Kalvakuntla Suhan Rao (Personal Guarantor) of M/s Pioneer Gas Power Limited (Corporate Debtor).
The Corporate Debtor availed various credit facilities from the Financial Creditor, including term loans and cash credit facilities.
The Corporate Debtor defaulted in repayment, leading to the account being classified as a Non-Performing Asset (NPA) on 28.06.2017.
The Corporate Debtor executed a revival/acknowledgment letter on 23.01.2019, admitting the debt.
The Financial Creditor issued a recall notice on 11.08.2021 to the Corporate Debtor and the Personal Guarantor, demanding repayment.
The Financial Creditor issued a demand notice to the Personal Guarantor on 04.11.2021.
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Term Loan…
Term Loan…
State Bank of India filed a petition under Section 95 of the IBC, seeking initiation of Personal Insolvency Resolution Process (PIRP) against Sri Kalvakuntla Suhan Rao, the Personal Guarantor of M/s Pioneer Gas Power Limited, the Corporate Debtor.
State Bank of India (Financial Creditor) filed a petition under Section 95 of the IBC against Sri Kalvakuntla Suhan Rao (Personal Guarantor) of M/s Pioneer Gas Power Limited (Corporate Debtor).
The Corporate Debtor availed various credit facilities from the Financial Creditor, including term loans and cash credit facilities.
The Corporate Debtor defaulted in repayment, leading to the account being classified as a Non-Performing Asset (NPA) on 28.06.2017.
The Corporate Debtor executed a revival/acknowledgment letter on 23.01.2019, admitting the debt.
The Financial Creditor issued a recall notice on 11.08.2021 to the Corporate Debtor and the Personal Guarantor, demanding repayment.
The Financial Creditor issued a demand notice to the Personal Guarantor on 04.11.2021.
…Term Loan…
Term Loan…