The application is filed under Section 94 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 by Mr. Surendra Agarwal, the personal guarantor for M/s Narayani Tor Pvt. Ltd. (Corporate Debtor), seeking initiation of insolvency resolution process.
Mr. Surendra Agarwal filed an application under Section 94 of the Insolvency and Bankruptcy Code, 2016 as a personal guarantor to M/s Narayani Tor Pvt. Ltd.
Bank of Baroda advanced a loan to the Corporate Debtor, M/s Narayani Tor Pvt. Ltd.
The applicant received a notice dated 04.09.2019 under section 13(2) of the SARFAESI Act, 2002 from Bank of Baroda due to the default of the Corporate Debtor.
The amount of default is Rs. 5,84,22,267.87/- and the date of default is 02.11.2019.
The Adjudicating Authority appointed Mr. Vishnu Upadhyay as the Resolution Professional.
Interim moratorium commenced from 16.03.2022, the date of filing of the application.
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Bank of Baroda issued a notice to the applicant…
The date of de…
The application is filed under Section 94 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 by Mr. Surendra Agarwal, the personal guarantor for M/s Narayani Tor Pvt. Ltd. (Corporate Debtor), seeking initiation of insolvency resolution process.
Mr. Surendra Agarwal filed an application under Section 94 of the Insolvency and Bankruptcy Code, 2016 as a personal guarantor to M/s Narayani Tor Pvt. Ltd.
Bank of Baroda advanced a loan to the Corporate Debtor, M/s Narayani Tor Pvt. Ltd.
The applicant received a notice dated 04.09.2019 under section 13(2) of the SARFAESI Act, 2002 from Bank of Baroda due to the default of the Corporate Debtor.
The amount of default is Rs. 5,84,22,267.87/- and the date of default is 02.11.2019.
The Adjudicating Authority appointed Mr. Vishnu Upadhyay as the Resolution Professional.
Interim moratorium commenced from 16.03.2022, the date of filing of the application.
Bank of Baroda issued a notice to the applicant…
The date of de…