State Bank of India filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, seeking initiation of the Insolvency Resolution Process against Smt. T Pavani, the Personal Guarantor of M/s. Chadalavada Infratech Ltd.
State Bank of India filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016 against Smt. T Pavani, the Personal Guarantor of M/s. Chadalavada Infratech Ltd.
The Petitioner Bank granted credit facilities to Chadalavada Infratech Ltd, for which T Pavani stood as a guarantor vide guarantee agreement dated 20.10.2010.
The outstanding debt as on 15.04.2011 was Rs. 167,56,23,293.24, and the total amount in default is Rs. 250,90,45,531.03.
The Petitioner Bank initiated actions under SARFAESI Act and Recovery of Debts and Bankruptcy Act, 1993.
The Adjudicating Authority granted interim-moratorium on 20.04.2022 and appointed Shri. Maligi Madhusudhana Reddy as Resolution Professional.
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Guarantee agreement…
Date on which the…
State Bank of India filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019, seeking initiation of the Insolvency Resolution Process against Smt. T Pavani, the Personal Guarantor of M/s. Chadalavada Infratech Ltd.
State Bank of India filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016 against Smt. T Pavani, the Personal Guarantor of M/s. Chadalavada Infratech Ltd.
The Petitioner Bank granted credit facilities to Chadalavada Infratech Ltd, for which T Pavani stood as a guarantor vide guarantee agreement dated 20.10.2010.
The outstanding debt as on 15.04.2011 was Rs. 167,56,23,293.24, and the total amount in default is Rs. 250,90,45,531.03.
The Petitioner Bank initiated actions under SARFAESI Act and Recovery of Debts and Bankruptcy Act, 1993.
The Adjudicating Authority granted interim-moratorium on 20.04.2022 and appointed Shri. Maligi Madhusudhana Reddy as Resolution Professional.
…Guarantee agreement…
Date on which the…