The case pertains to an application 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 Applicant/Debtor, who is a personal guarantor to M/s Narayani Tor Pvt. Ltd. (Corporate Debtor).
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 M/s Narayani Tor Pvt. Ltd., which subsequently defaulted.
A notice under Section 13(2) of the SARFAESI Act, 2002, was issued to Mr. Surendra Agarwal by Bank of Baroda due to the corporate debtor's default.
Mr. Surendra Agarwal failed to fulfill his obligations under the personal guarantee within 60 days of the notice.
The amount of default is Rs. 5,84,22,267.87/- and the date of default is 02.11.2019.
The Adjudicating Authority declared an interim moratorium commencing from 16.03.2022.
Mr. Vishnu Upadhyay was appointed as the Resolution Professional.
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Date of notice under…
Date of de…
The case pertains to an application 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 Applicant/Debtor, who is a personal guarantor to M/s Narayani Tor Pvt. Ltd. (Corporate Debtor).
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 M/s Narayani Tor Pvt. Ltd., which subsequently defaulted.
A notice under Section 13(2) of the SARFAESI Act, 2002, was issued to Mr. Surendra Agarwal by Bank of Baroda due to the corporate debtor's default.
Mr. Surendra Agarwal failed to fulfill his obligations under the personal guarantee within 60 days of the notice.
The amount of default is Rs. 5,84,22,267.87/- and the date of default is 02.11.2019.
The Adjudicating Authority declared an interim moratorium commencing from 16.03.2022.
Mr. Vishnu Upadhyay was appointed as the Resolution Professional.
Date of notice under…
Date of de…